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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, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
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- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Minerals Council of Australia
- India Bulls Power Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
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