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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, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
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Showing 6 to 10 news of total 6871 |
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- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
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