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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, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
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Showing 6 to 10 news of total 6871 |
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- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
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