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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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Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
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- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Planning Commission, India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
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