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