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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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Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
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- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
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