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Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
 Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in major Asian markets, according to the International Energy Agency’s latest market analysis and forecasts.
The weakness in coal demand this year results mainly from coal-fired electricity generation, which is set to experience its largest ever decline – over 250 terawatt hours (TWh), or more than 2.5%. This drop is led by double-digit falls in the United States and Europe, according to Coal 2019, which was released today and contains forecasts through 2024.
It is too soon to say whether the expected global decrease in coal power generation this year will be the start of a lasting trend. The IEA forecasts that renewable sources will supply a major portion of the increase in global electricity demand over the next five years. Electricity generation from coal will rise only marginally over that period, at less than 1% per year – and its share will decline from 38% in 2018 to 35% in 2024. This means coal remains by far the single largest source of power supply worldwide.
Ultimately, global trends will depend largely on China, where half of the world’s coal is produced and consumed.
In Europe and the United States, coal power generation is sinking to levels not seen in decades. Growth in solar PV and wind, low natural gas prices and stagnating electricity demand have created a perfect storm for coal in both regions, where coal plants retirements continue to take place. These trends will continue through 2024, although the speed of the declines is expected to slow unless coal comes under additional pressure from stronger climate policies or lower-than-expected natural gas prices.
“Wind and solar PV are growing rapidly in many parts of the world. With investment in new plants drying up, coal power capacity outside Asia is clearly declining and will continue to do so in the coming years,” said Keisuke Sadamori, the IEA’s Director of Energy Markets and Security, who is launching the report in Johannesburg today alongside Gwede Mantashe, South Africa’s Minister of Mineral and Energy Resources.
“But this is not the end of coal, since demand continues to expand in Asia,” Mr Sadamori added. “The region’s share of global coal power generation has climbed from just over 20% in 1990 to almost 80% in 2019, meaning coal’s fate is increasingly tied to decisions made in Asian capitals.”
The report highlights that countries in South and Southeast Asia – such as India, Indonesia and Vietnam – are relying on coal to fuel their economic growth. Natural gas and oil have traditionally been the main sources of power generation in Pakistan, but the country has commissioned 5 gigawatts (GW) of coal power capacity since 2017, and another 5 GW is set to come online in the next few years. In Bangladesh, where natural gas has long generated the bulk of electricity supply, coal will gain share in the coming years, with 10 GW of capacity in the pipeline.
“In 2019, global coal power generation will experience the biggest drop ever and coal power generation in India will probably decline for the first time in 45 years,” Mr Sadamori said. “The global picture, however, has not changed much. Coal is disappearing in many advanced economies, but it remains resilient and is even continuing to grow in developing Asia. The low coal power generation in India this year was due to unusually low growth in electricity demand and exceptionally high hydropower output. It is not at all clear that it will be repeated.”
The IEA forecast for global coal demand in this year’s report is very similar to those in previous years, but Coal 2019 warns that potential threats to the sector are increasing. Public opposition to coal is building, many countries are mulling stronger climate and environmental policies, and renewables and natural gas are becoming more and more competitive.
Source: IEA
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Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
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- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Economic Council, Georgia
- London Commodity Brokers - England
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- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
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- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- CNBM International Corporation - China
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- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
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- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
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- Miang Besar Coal Terminal - Indonesia
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- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
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- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
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- Baramulti Group, Indonesia
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- Meralco Power Generation, Philippines
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- Bayan Resources Tbk. - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
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- Mercator Lines Limited - India
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- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
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- Gujarat Sidhee Cement - India
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- Australian Commodity Traders Exchange
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- Bhushan Steel Limited - India
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- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
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- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
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- The State Trading Corporation of India Ltd
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
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- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
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- The University of Queensland
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- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
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- Semirara Mining and Power Corporation, Philippines
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- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- PNOC Exploration Corporation - Philippines
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- Interocean Group of Companies - India
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- Price Waterhouse Coopers - Russia
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