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