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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, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
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- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
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