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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, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
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- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
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