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Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected electricity demand.
Between January and August, electricity production in advanced economies fell by 4% y/y, according to data from the International Energy Agency. In 2023, measures against high inflation slowed economic growth in advanced economies. The International Monetary Fund estimates GDP in advanced economies will grow by only 1.5% in 2023 compared to 2.6% in 2022, and some economies in Europe are even expecting negative growth. As a result, industrial production weakened in several of these economies, further affecting electricity demand.
Thermal coal accounted for 68% of coal shipments which fell by 22% y/y, between January and October this year. Thermal coal is used for electricity generation and is being phased out across many advanced economies in favour of renewable energy. Coking coal imports by advanced economies also fell, but only 2%, due to lower steel production in the EU, Japan and South Korea.
In 2023, advanced economies’ imports of seaborne coal could reach the lowest level since 2002. Imports fell in most of these markets, but the decline was most significant in the EU. After it boosted imports in 2022 in response to an energy crisis, volumes retreated once again and are now below 2021 levels.
Advanced economies import 32% of the world’s seaborne coal shipments. Japan, Korea, the EU and Taiwan are the largest importers, accounting for 94% of all coal shipments to advanced economies. Australia is the origin of 40% of these cargoes, favoured for the high energy content in its coal. Other exporters include Indonesia, Russia, US, Canada, Colombia and South Africa.
Despite weaker shipments to advanced economies, global coal shipments are expected to grow 4.5-5.5% in 2023. Stronger demand in parts of Asia, particularly in China, has supported coal shipments this year. Average haul also increased 1.5-2.5%, boosted by sanctions on Russian coal.
In the coming years, coal shipments to advanced economies are expected to continue declining as electricity generation from renewables increases. While higher demand in emerging Asia may cover some of these losses, we currently expect global coal shipments could start falling from 2024.
Source: BIMCO
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
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