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