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