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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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Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
...
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- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Australian Coal Association
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
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