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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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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
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