COLUMN-South East Asia set to enter coal importer big leagues: Maguire
11 May 2023
LITTLETON,
Colorado, May 10 (Reuters) - Southeast
Asia only accounts for around 12% of global thermal coal imports, so is often
overshadowed by China and India in discussions about key coal consumer markets
and the associated impact on emissions.
However, the region routinely imports well over 100 million
tonnes of coal annually, and has outpaced other major importers in terms of
annual growth rates since 2018, expanding at an average rate of 14% per year,
flows data from Kpler shows.
That growth pace compares to 3% for China and 13% for India, and if sustained
means that the region could soon emerge as a powerful driver of global coal use
that could offset coal usage declines that are expected in other markets.
What's
more, due to the varied nature of the area's economies, political systems and demographic
trends, the Southeast Asian region as a whole may be less likely to comply with
global targets to reduce coal use, and less susceptible to international
pressure to reverse emissions trajectories.