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