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Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected electricity demand.
Between January and August, electricity production in advanced economies fell by 4% y/y, according to data from the International Energy Agency. In 2023, measures against high inflation slowed economic growth in advanced economies. The International Monetary Fund estimates GDP in advanced economies will grow by only 1.5% in 2023 compared to 2.6% in 2022, and some economies in Europe are even expecting negative growth. As a result, industrial production weakened in several of these economies, further affecting electricity demand.
Thermal coal accounted for 68% of coal shipments which fell by 22% y/y, between January and October this year. Thermal coal is used for electricity generation and is being phased out across many advanced economies in favour of renewable energy. Coking coal imports by advanced economies also fell, but only 2%, due to lower steel production in the EU, Japan and South Korea.
In 2023, advanced economies’ imports of seaborne coal could reach the lowest level since 2002. Imports fell in most of these markets, but the decline was most significant in the EU. After it boosted imports in 2022 in response to an energy crisis, volumes retreated once again and are now below 2021 levels.
Advanced economies import 32% of the world’s seaborne coal shipments. Japan, Korea, the EU and Taiwan are the largest importers, accounting for 94% of all coal shipments to advanced economies. Australia is the origin of 40% of these cargoes, favoured for the high energy content in its coal. Other exporters include Indonesia, Russia, US, Canada, Colombia and South Africa.
Despite weaker shipments to advanced economies, global coal shipments are expected to grow 4.5-5.5% in 2023. Stronger demand in parts of Asia, particularly in China, has supported coal shipments this year. Average haul also increased 1.5-2.5%, boosted by sanctions on Russian coal.
In the coming years, coal shipments to advanced economies are expected to continue declining as electricity generation from renewables increases. While higher demand in emerging Asia may cover some of these losses, we currently expect global coal shipments could start falling from 2024.
Source: BIMCO
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
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