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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, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
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- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
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