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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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Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
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- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
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