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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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Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
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- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- The University of Queensland
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
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