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