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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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Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
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- Indika Energy - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- PTC India Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
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