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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, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
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Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
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- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- White Energy Company Limited
- Parliament of New Zealand
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- PTC India Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- The University of Queensland
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
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