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