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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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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
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- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- The University of Queensland
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
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