Page 162 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΣΕΠΤΕΜΒΡΙΟΣ 2022

From production to seaborne transport and consumption

COMMODITIES

Edited by:
Giannis Theodoropoulos,
Manos Charitos AN INSIGHT FOR SUPPLY AND DEMAND TRENDS

DRY BULK COAL exported 441.5 million tonnes of coal,
equal to 31% of global coal exports. All
CARGOES Indonesia blocks 48 coal miners’ exports are moved by ship and in 2021
exports
were equal to 8% of global dry bulk
On 9 August, the Indonesian Energy and cargo demand,” says Niels Rasmussen,
Mineral Resources Minister announced Chief Shipping Analyst at BIMCO.
that 71 coal miners had failed to meet The partial Indonesian export ban coin-
their domestic market obligations and cides with the full implementation of
that 48 of them are now banned from the European Union’s ban on Russian
exporting coal. The ban comes into coal. In 2021, The EU imported 39 mil-
force just as the EU ban on Russian coal lion tonnes of coal from Russia, equal
has taken full effect and demand for to 36% of EU coal imports. The EU’s
non-Russian coal has been increasing. demand for coal has increased year-
Indonesia is the world’s largest exporter to-date and is expected to increase
of coal. In January 2022, the country further as the bloc turns to coal to
completely banned coal exports to replace missing natural gas supplies
protect its domestic supply. Since the from Russia.
ban was lifted in February, miners have
been obligated to sell 25% of coal in Changes in the USA energy landscape
the domestic market to protect against The amount of electric power produced
future energy crises. from coal has been steadily declining in
Despite legislators’ concern over the United States over the past 10 years,
shrinking domestic coal stocks, for falling to a 46-year low of 773,393 giga-
now, another outright ban on all coal watt-hours (GWh) in 2020. Although US
exports remains unlikely. Inventories in coal-fired generation increased by 16%
the state’s power utility company PLN to 898,679 GWh in 2021, the US Energy
remain above 4.5 million tonnes, a level Information Administration (EIA) forecasts
considered to be secure. a continued move away from coal. To be
The names of the 48 miners have not been more competitive in the electric power
revealed, and the Indonesia Coal Mining market, some coal-fired plants are add-
Association are contesting the ban. ing natural gas-fired generation to their
The announcement comes only one coal-fired capacity (a fuel-flexible plant).
month after Indonesia pledged to The decline in US coal-fired genera-
increase coal production to help meet tion has resulted chiefly from coal-fired
demand from countries that have lost plants becoming uneconomical com-
supplies from Russia. pared with other sources of fuel for elec-
“Indonesia is the world’s largest tric power. This loss of competitiveness
exporter of coal. In 2021, the country has resulted in nearly one-third of the

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