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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, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
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- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Planning Commission, India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
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