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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, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
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