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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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Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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Showing 36 to 40 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
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