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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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Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
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- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
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- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
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- Central Electricity Authority - India
- Indonesian Coal Mining Association
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- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
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- IEA Clean Coal Centre - UK
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- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
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- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
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- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
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- Thai Mozambique Logistica
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- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
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- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
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- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
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