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