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