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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, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
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