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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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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
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