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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, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
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Showing 26 to 30 news of total 6871 |
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- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- PTC India Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Central Electricity Authority - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
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