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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, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
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Showing 11 to 15 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
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