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