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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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Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Planning Commission, India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
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