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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, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Showing 16 to 20 news of total 6871 |
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- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
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