Vietnam's coal imports fall further in February
In the following article, we invite you to join Thuan Hai to learn about the coal import market situation in Vietnam in February 2021. You will get an update on the current status of imported Indonesian coal (Indonesian coal), Australian coal (Australian coal) in the beginning of 2021.
Current situation of imported coal in Vietnam
Vietnam imported 859,600 tons of coal from Indonesia last month, down from 1.2 million tons of coal imported in the same month last year.
Coal mining in Borneo Island, Indonesia.
Australia's coal supply to Vietnam has also declined after having stabilized in recent months amid an unofficial Chinese ban on Australian coal. Vietnam imported 673,650 tons of Australian coal last month, down nearly 400,000 tons from a year earlier.
Russian coal imports halved to 217,900 tons of coal in February from 487,500ta the year before.
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Coal production situation in Vietnam
Vietnam's coal production outlook remains stable as a range of power generation projects are planned and under construction. Vietnam is likely to continue developing 15 planned coal-fired power projects with a total capacity of 18GW between 2021-2026, Institute for Sustainable Energy Research Institute for Financial Analysis and Energy Economics. said last month.
Coal is imported to Cai Mep port
Specific analysis of coal import market in Vietnam in February 2021
Vietnam's coal imports fell for the third consecutive month in February from a year earlier due to a slowdown in industrial activity amid the Lunar New Year holiday and the recent increase in the number of CoVID-19 cases.
Temporary customs data showed that revenue from sea in February stood at 1.9 million tons. This is down from 3.3 million tonnes in the same month last year and from 2.99 million tonnes in January . Vietnam customs data does not distinguish between coking coal and thermal coal.
Rising freight rates may have limited interest rates on goods shipped by sea at the end of February.
The drop last month followed a steady increase in demand for ocean freight last year, bringing imports in 2020 to an all-time high of 54.81 million tons , up from 43.77 million tons in 2019.
Coal unloading and conveying conveyor to Cai Mep warehouse with a capacity of 500,000 tons
Production situation of industries in February 2021
Vietnam's industrial production fell 7.2 percentage points year-on-year after rising 22.2 percentage points in January, due to slowing business activity during the mid-February Lunar New Year holiday. .
But the World Bank estimates Vietnam's economy will grow by around 6.8 points this year, up from 2.91 points in 2020, supporting the outlook for electricity demand and coal imports. The Vietnamese economy has recovered more than any other country in the past year due to widespread business continuity during the CoVID-19 pandemic. Authorities have recently stepped up efforts to stop the spread of new CoVID-19 infections in certain parts of the country. The demand for electricity has declined as businesses such as bars, clubs, gyms, movie theaters and restaurants closed and stringent social controls were in place.
Total electricity production fell to 16.9TWh last month, down from 17.4TWh in February 2020 and 18.6TWh in January, according to the General Statistics Office (GSO).
TCE cogeneration plant and electricity use fuels: coal, waste, and rice husks
Cement production in February reached 6.8 million tons, down from 7.1 million a year ago and 8.7 million tons in January. Vietnam also produced 1.9 million tons of crude steel last month. This is down from 2.19 million tons in January but up from 1.66 million tons in February 2020. The increase compared to the same period last year could support the country's coking coal output.
Meanwhile, Vietnam's domestic coal production outstripped its imports in February. According to GSO interim estimates, domestic production reached 3.22 million tons, down from 4.43 million a year earlier and 3.95 million in January.
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