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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, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
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Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
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- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- The University of Queensland
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
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