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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, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
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