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