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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, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
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- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
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