rss icon Subscribe
desktop mobile

World Seaborne Coal Trade Rose 0.7% in 2019

©  jeayesy / Adobe Stock

Seaborne coal trade around the world grew 0.7% last year, helped by higher output in China and Indonesia and more export activity by Indonesia, Australia, Russia and Canada, Germany's VDKI coal importers lobby said on Friday.

Imports and exports, counted together, rose to 1.218 billion tonnes from 1.210 billion tonnes in 2018, VDKI Managing Director Franz-Josef Wodopia said in an speech made available to Reuters, citing VDKI estimates.

Within the 2019 total, trade in coking coal used for steelmaking dropped by 1% to 287 million tonnes as steel production declined, the Verein der Kohlenimporteure estimated.

But trade in steam coal, used in power stations, rose by 1.2% to 932 million tonnes.

World demand growth was mainly led by India, where the start-up of new power plants pushed imports over by 5.3% to 235 million tonnes, delivered largely from Australia, Indonesia and China, VDKI said.

In large parts of the Asia-Pacific market, there is no alternative to coal, said VDKI, although noting South Korea received 7% lower imports after regulating to curb emissions of particulate matter.

By contrast, the Atlantic market was structurally weak due to a greater focus on renewable energy in developed countries making stronger efforts to try to combat climate change.

In addition, a natural gas glut made gas a relatively cheap alternative to coal in western Europe, with the benefit of cutting roughly in half the CO2 emissions compared with power generation plants run on coal.

The year 2019 was particularly bad for imports into Germany, VDKI said separately.

World coal demand is expected to remain stable until 2024, the International Energy Agency said last month.

Analysts, citing south-east Asian demand growth, expect a price recovery this year.

Longer term, the 2015 Paris Climate Agreement demands a virtual end to coal power by 2050, which country representatives must pursue after failing to decide on explicit steps at a December summit in Madrid.


(Reporting by Vera Eckert, editing by David Evans)

Jan 17, 2020

 

Bulk Carriers

Baltic Index Vessel Rates Edge Higher

© Jelena Dautova / Adobe Stock

The Baltic Exchange's main sea freight index rose on Wednesday as rates improved across all vessel

Baltic Index Jumps to 2-Week High

© masterskuz55 / Adobe Stock

The Baltic Exchange's main sea freight index rose to a two-week high on Tuesday, as higher rates

Golden Ocean Warns on Profit, Supply Chains Due to Coronavirus

© masterskuz55 / Adobe Stock

Shipping group Golden Ocean warned on Tuesday its profit would be hit by a slowdown in demand due

coal

World's First: Japanese Trio Intros LNG-fueled LCC

Images by: Oshima Shipbuilding and Namura Shipbuilding

Japanese shipping companies Nippon Yusen Kabushiki Kaisha (NYK) and Mitsui O.S.K. Lines (MOL) have

Lydia Oldendorff Sets Record

Pic: Oldendorff Carriers

The largest German bulk carrier company Oldendorff Carriers GmbH, which operates around 700 ships

MOL, Tohoku Trial Hard Sail on a Coal Carrier

Pic: MOL

Mitsui O.S.K. Lines (MOL) and Tohoku Electric Power have announced that they intend to move ahead

Maritime Apps