Page 160 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - MARTIOS 2023

From production to seaborne transport and consumption dramatically changed the energy land- rally due to China’s return to the mar- Coal from the United States is helping
scape by bringing coal back into the kets, particularly the Australian coal supply Europe following the EU’s ban
on coal imports from Russia. US coal
equation. This means Indonesia’s coal
market.
COMMODITIES despite energy transition efforts. At the EIA: US production to decline in 2023 IRON ORE-STEEL
exports also fulfil demand in Asia.
sales this year will increase significantly
The US Energy Information Administra-
same time, other parameters such as the
restart of the Chinese economy, the EU
tion (EIA) recently published its Febru-
embargo on Russian energy goods and
The restart of the Simandou project
ary Short-Term Energy Outlook (STEO)
India’s limited domestic coal reserves report that provides the US Energy Guinea has announced the resumption of
will theoretically also boost Indonesian Information Administration’s (EIA) near- works to develop Simandou, the world’s
coal exports. term perspective on energy markets. biggest untapped deposit of high-grade
The EIA expects US coal production iron ore, after The China Development
Edited by: Japan’s moves amid price rally and to decline by 13% to 518 million short Bank, the Export-Import Bank of China,
Giannis Theodoropoulos AN INSIGHT INTO SUPPLY AND DEMAND TRENDS energy crisis tons (MMst) in 2023, after increasing and the Industrial and Commercial Bank
Japan’s coal-fired power plants are in both 2021 and 2022, with a further of China also participated in these talks.
taking measures to fight inflation and 5% decline to 494 MMst in 2024. Pri- Rio Tinto Group, Winning Simandou Con-
bolster energy security. marily, it forecasts a 16% reduction in sortium, and China Baowu Steel Group
According to a Reuters report, Jap- coal consumption by the electric power agreed to restart infrastructure develop-
anese power plants are switching to sector in 2023, followed by flat con- ment at the site in this month, Guinea’s
lower-quality coal and widening their sumption in 2024. That decline largely military government said in a statement.
DRY BULK COAL in 2022 reached 448.5 million tons, an import sources. Japanese officials reflects almost 9.6 GW of coal-fired Last year, the project went through hell
and high water due to disagreements
told Reuters that Japan, the world’s capacity retirements in 2023, followed
increase of 14.4% compared to 2021.
CARGOES Indonesia’s exports on the rise The southeastern Asian country has third-largest coal importer, is turning to by another 2.8 GW closing in 2024. between the government and other stake-
supplies from Africa and South America
The EIA notes that two other factors will
holders over the government’s share of
Indonesia’s decision in January 2022 to significantly increased its exports since
impose a temporary ban on coal exports January 2022; if exports continue at after cutting imports from Russia due be the lower natural gas prices and the the revenues and how the estimated $15
to prevent power loss and blackouts after this rate, it is bound to become the first to sanctions. 19% increase in renewable generation billion for the project would be financed.
supplies at domestic power plants fell to country to exceed 500 million tonnes The galloping inflation has resulted in over those two years. Consequently, The restart of the project will give a boost
critically low levels came as a bolt out in coal exports in just one year. Accord- power plants asking for an increase in coal imports in EIA’s forecast decline to China, which is looking to reduce its
of the blue. Given that Indonesia is the ing to Kpler’s cargo-tracking data, the electricity prices from April or June, as by 47% from 2022 to less than 4 MMst dependence on Brazil and Australia for
world’s top exporter of thermal coal, the country exported 449 million tonnes of the cost of importing coal is exception- in 2024. iron ore supplies. According to data from
ban it imposed sent prices soaring and coal in 2022, up 14.3% from 393 million ally high. However, although coal prices Steam coal exports will increase from the International Steel Association, China
caused unprecedented market volatility. tonnes in 2021. have fallen 39% so far this year, market 39 MMst in 2022 to 45 MMst in 2024 consumed 67% of iron ore shipped inter-
Nevertheless, Indonesia’s coal exports The Russian invasion of Ukraine has circles are concerned about a renewed due mainly to greater demand in Europe. nationally in 2021.

Fortescue’s dynamic entry into Gabon
Australia’s Fortescue Metals Group has
clinched a deal with the government of
Gabon to extract iron ore from the Bel-
inga deposit.
Fortescue, the fourth-largest iron ore miner
globally, is searching for high-grade iron
ore to blend with its Australian product.
The company is expected to start mining in
Gabon in the second half of this year.
As Fortescue’s Chief Operating Officer
Dino Otranto said in an interview with
Reuters, the Belinga deposit, which the
company has been eyeing since 2018,
could rival Guinea’s giant Simandou
deposit for scale and quality.
The produced iron ore will be transported
via Gabon’s existing road and rail net-
works to the Owendo Mineral Port, from
where it will be shipped to international
markets.

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