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