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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, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
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