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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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Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
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- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Planning Commission, India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
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