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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
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