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