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