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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, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Showing 16 to 20 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- PTC India Limited - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
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