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