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