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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- PTC India Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
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