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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, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
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- SMG Consultants - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Australian Coal Association
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