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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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Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
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- Essar Steel Hazira Ltd - India
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- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
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- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- The University of Queensland
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- McConnell Dowell - Australia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
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- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
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