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