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