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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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Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
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