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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, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
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- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
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