Page 187 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2023

markets for Australia’s high-CV coal will make exporters club by 2026, according to what Shri
up the shortfall. It states that “over the longer Pralhad Joshi, India’s coal minister, has recently
term, coal markets are likely to gravitate towards said.
higher grades of coal, as efforts to reduce carbon India has significant coal reserves and is moving
emissions and transform global energy markets from being a net importer to becoming a net
continue”. exporter of thermal coal, said Joshi, on the side-
Despite China resuming coal trade with Australia, lines of the seventh round of the auctions for the
Chinese imports are in structural decline, accord- commercial exploitation of a coal block. “Except
ing to the department and “Australian exporters for metallurgical coal, we will stop importing ther-
are largely expected to hold to their new and mal coal within the next three years, he said. “We
more diverse supply chains”. Domestic coal supply have had a record coal production of nearly 900
could match domestic coal consumption by the million tonnes in the financial year 2023, and we
2030s but raises a risk that this import market have coal stock of 116-117 million tonnes at pres-
could fall away entirely in the longer term beyond ent. Furthermore, he made assurances that in the
its forecast outlook. coming months, when the demand will be high, the
India has been identified as a major growth market supply of coal will be uninterrupted, and phenom-
for seaborne thermal coal, with significant upward ena like those of last year will be avoided.
revision on previous forecasts. The department In the current financial year, India’s domestic
estimates 30% growth for 2023 volumes and 60% demand for coal will be 1.087 billion tonnes, and a
growth by 2027 (of 98 Mt). This is in response to large part of its needs will be met through imports
India’s continued economic growth and depen- this year.
dence on coal-based energy.
Chinese imports set to increase
India to join the club of exporting countries China’s March coal imports closed on a positive
It appears that India will be joining the coal note, as the Asian country imported 41.17 million

187