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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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Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
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- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
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