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