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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, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
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Showing 11 to 15 news of total 6871 |
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
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