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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, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
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Showing 11 to 15 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
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