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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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Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
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- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
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