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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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Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
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- Planning Commission, India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
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