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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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- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Parliament of New Zealand
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- The University of Queensland
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
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