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