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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, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Showing 16 to 20 news of total 6871 |
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- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
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