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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
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- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
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- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
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- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
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- Mercator Lines Limited - India
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- Directorate Of Revenue Intelligence - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Global Business Power Corporation, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
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- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
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- Baramulti Group, Indonesia
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- Ministry of Mines - Canada
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- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
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- Borneo Indobara - Indonesia
- Parliament of New Zealand
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- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
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- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
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- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
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- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
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- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
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- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
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- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
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