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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, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
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- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
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