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Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. After a tumultuous few years marked by the Covid-19 shock in 2020 and the turmoil caused by Russia’s invasion of Ukraine in 2022, the coal markets have returned to more predictable and stable patterns in 2023. Notably, coal trade is heading back to 2019 volumes, with Chinese imports leading the charge.
One significant factor contributing to the surge in coal imports is the decline in coal prices. Cheaper coal has made imports more attractive, especially for price-sensitive buyers. China, the world’s largest coal consumer and producer, has almost doubled its imports in the first half of 2023. As a result, global coal trade is projected to grow by more than 7%, outpacing overall demand growth and approaching record levels seen in 2019. Seaborne coal trade may even surpass the 2019 record of 1.3 billion tonnes.
Another reason for the upward trajectory in coal supply is the stronger financial position of coal mining companies. Despite no new large-scale projects coming online, the high prices in 2022 have left these companies with more robust balance sheets, allowing them to invest in sustaining and even expanding capital expenditures. Additionally, the end of La Niña, which hampered coal production in Australia, has bolstered the coal supply outlook for 2023, despite the retreat of coal prices from their peak.
Renewed demand
The demand side of the equation is also playing a vital role in the resurgence of coal trade.
Even the European Union, traditionally a coal importer, temporarily turned into an exporter of thermal coal due to ample inventories accumulated during the previous year and reduced coal-fired power generation.
Global coal consumption reached an all-time high in 2022 and is expected to remain near that record level in 2023. Asia, led by China, India, and Southeast Asian countries, is expected to account for a significant portion of coal consumption. China and India together are projected to use almost 75% of the world’s coal in 2023, further solidifying their dominance in the market.
Despite the positive developments in the coal industry, concerns remain regarding the environmental impact of coal usage. Coal remains the largest single source of carbon emissions from the energy sector, and while clean energy has put coal use into structural decline in Europe and the United States, demand remains stubbornly high in Asia.
To address this, the IEA emphasises the need for greater policy efforts, investments, and stronger international cooperation to drive a massive surge in clean energy and energy efficiency to reduce coal demand in rapidly growing economies.
“But demand remains stubbornly high in Asia, even as many of those economies have significantly ramped up renewable energy sources. We need greater policy efforts and investments – backed by stronger international cooperation – to drive a massive surge in clean energy and energy efficiency to reduce coal demand in economies where energy needs are growing fast.”
Forward look
The mid-year Coal Market Update also provides insights into the future of the coal industry. Global coal demand is projected to remain flat in 2024, with declines in the electricity sector offset by small increases in the industrial sector as economic conditions improve. Asia, particularly India and Southeast Asia, is expected to experience growth in coal demand, while the United States and the European Union will see further declines. China and India are set to continue dominating the global coal consumption landscape, accounting for more than half of the world’s coal use.
Source: Baltic Exchange
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Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Australian Coal Association
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
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