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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, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
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