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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, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
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Showing 31 to 35 news of total 6871 |
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- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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