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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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- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- PTC India Limited - India
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