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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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Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
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- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- GMR Energy Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Dalmia Cement Bharat India
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