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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
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Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
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Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
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Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
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Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- PTC India Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Australian Coal Association
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
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