Coal’s demand in the world is likely to remain firm for over decades to come as it is the most used fuel sources after oil. The year 2013 for the Coal industry was quite turbulent, but in 2014, it is likely that supply will outstrip demand. It is anticipated for 2014 that Coal productions will increase globally to fulfill soaring demand from industries for the fuel.
Globally, China, USA, Australia and India are the largest producers of Coal. India, Japan and China are accounted as the largest importers of Coal worldwide. Indonesia, Australia and Russia are the largest exporter of the fuel source in the world.
India, the third largest importer and fifth largest producer of coking Coal had shipped in about 30 MnT in 2013. It plans to increase its imports up to 94 MnT by 2017 and 200 MnT by 2026. Correspondingly its productions were about 30 MnT in 2013 are aimed to soar up to 40 MnT by 2017 and to 50 MnT by 2020. Coal India targets to produce about 615 MnT by FY17. National Mineral Development Corporation (NMDC) also plans to begin mining in 2014 after its 3 MnT annual production capacity plant is set up in Chhattisgarh.
According to Peabody Energy Corporation, the world’s largest private sector Coal company predicts India’s Coal demand to rise by 26.7 percent in 2014. Similarly, it expects China’s demand to soar by 20.2 percent in 2014. China National Coal Association (CNCA) predicts China’s supply of Coal to reach 4 billion tonnes in 2014 from 3.7 billion tonnes in 2013.
Chinese Coal productions are expected to grow up by 2.7 percent in 2014 to about 3.8 billion tonnes. The country’s imports are estimated to increase up to around 300 MnT, despite the efforts from the Chinese government to curb use of low-quality Coal. Beijing has approved for 15 new large Coal mines with an annual production capacity of 101.3 MnT and investment of USD 8.9 billion.
In Indonesia, the Ministry of Energy and Mineral Resources have downsized its Coal production target for 2014 to 400 MnT which was 421 MnT in 2013. The country’s domestic Coal consumption is likely to reach 95.5 MnT in 2014 over 72 MnT in 2013 for generating electricity and smelting operations.
Mounting demand for energy is likely to increase Coal demand by 2-3 percent annually over next five years in the world. International Energy Agency (IEA) predicts global Coal demand to be about 5,793 MnT in 2014.