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