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