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