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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, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
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Showing 6 to 10 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Marubeni Corporation - India
- VISA Power Limited - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
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