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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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Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
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- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- The University of Queensland
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
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