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