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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
 Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more than 60 percent from their peaks in 2022, driven by soft economic activity and lower gas prices, which negatively affected demand for coal in the power sector. This significant drop has been bolstered by robust supply and gradually increasing penetration of renewable electricity. Nonetheless, prices remain well above their 2015-19 average. A sharp decline in prices has already unfolded in 2024, compared to the 2023 average, with further reductions anticipated in 2025 as renewable power generation meets rising electricity demand. Major risks to this outlook include stronger-than-expected growth in China's power output and hydropower shortfalls.
Global consumption hits a record high. In 2023, coal consumption is estimated to have reached a record high, increasing by 120 million tons (1.4 percent) compared to 2022. However, demand growth decelerated due to weak global economic activity, high penetration of renewable electricity, and lower natural gas prices. In the United States and the European Union, demand fell by an estimated 100 million tons each, while it rose by approximately 220 million tons in China and 100 million tons in India. The global demand shift towards Asia persisted in 2023, with China and India currently accounting for 70 percent of total consumption.
Global coal production remains robust. Production is estimated to have increased by about 150 million tons (Mmt) in 2023. In India, output rose by approximately 100 Mmt, while China's production grew by about 50 Mmt, partly due to enhanced safety measures in domestic mines. Conversely, production in the United States and the European Union declined by roughly 50 Mmt and 70 Mmt, respectively. In Australia, production stagnated due to labor shortages and sluggish exports to China, which have not fully recovered after China lifted its ban on Australian imports in January 2023, originally imposed in 2021.
Global trade reaches record highs. In 2023, global coal trade is estimated to have reached a record high, increasing by 100 Mmt. The growth was largely driven by a 150 Mmt rise in Chinese imports, as domestic production could not keep pace with growing consumption. Reflecting these consumption patterns, the Asia Pacific region accounted for approximately 80 percent of global coal imports. In the meantime, the European Union has continued to substitute exports from Russia by increasing trade with several commercial partners including the Australia, Colombia, South Africa and the United States.
Coal prices are expected to decline by 28 percent in 2024 and a further 12 percent in 2025. Upside risks to the coal price outlook includes higher-than-expected growth in China’s consumption and various factors that could lower renewable electricity production, such as low rainfall or light wind conditions. Downside risks include ample supply and weaker-than-expected global growth. The baseline assumption that China’s coal demand peaked in 2023 may be challenged by stronger-than-expected growth in power generation, as seen in 2021, or shortfalls in output from hydropower, as in 2023. Additionally, new coal mines are under development in China, and about 110 GW of coal plants were approved in 2023, indicating that domestic coal consumption could continue to rise. Production data covering 2024Q1 indicate that coal demand in the power sector in China will increase in 2024 unless renewable generation booms over the summer months or demand for electricity decreases.
By Paolo Agnolucci & Kaltrina Temaj
World Bank
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Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
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- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- The University of Queensland
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
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