Coal
Overview
Global thermal coal prices surged to record levels in 2022, experiencing unprecedented volatility. Prices have since come off as risks associated with Europe’s supply recede. At a global level, coal demand remains robust with security of supply shifting higher up the agenda of many governments in light of geopolitical upheaval.
In Europe, sanctions have shifted the region’s coal import mix away from Russia and towards other suppliers. The pace of coal plant phase-outs in the region is set to increase in the years ahead, with the role of coal in the electricity mix shifting further towards peak-load usage, making forward planning more challenging.
In Asia-Pacific, thermal coal remains a pillar of the power and industrial sectors. Global coal trade flows and price spreads are shifting, with flows from key suppliers Russia, Indonesia, Australia, South Africa, Colombia, and the US penetrating new markets, in response to price dynamics and trade barriers.
Keeping on top of prices and flows, and how coal markets intersect with other energy and commodity benchmarks, will be critical in the coming years.
Latest coal news
Browse the latest market moving news on the global coal industry.
Germany presents roadmap for fossil fuel phase-out
Germany presents roadmap for fossil fuel phase-out
Berlin, 23 September (Argus) — Germany submitted its roadmap for transitioning away from fossil fuels to the UN in New York today, in line with the commitment made at the UN Cop 28 climate summit in 2023. Germany is the third country to present its roadmap as part of the transitioning away from fossil fuels initiative, following France and the Netherlands . In presenting the roadmap, the government aims to "inject further momentum into the process", so that "as many countries as possible can flesh out their respective plans", the environment ministry said. The roadmap outlines existing targets and measures that are enshrined in the country's climate action law and climate action programme, which was passed by the government in March . The "current global situation" is injecting "new momentum" into international climate policy, environment minister Carsten Schneider said at the presentation. Fossil fuels still covered 65pc of Germany's energy usage in 2024, at a cost of €76bn. These costs have since "massively" increased, the ministry said. The country plans to reach net greenhouse gas neutrality in 2045. The roadmap relies on both the growing use of renewable energies in electricity generation and the electrification of transport, heating and industrial processes. The ministry flagged the rapidly growing share of renewable energy in electricity generation, which accounts for around 55pc of gross electricity consumption and is set to rise to at least 80pc by 2030. Coal-fired power generation will be phased out by 2038, with the government eyeing an earlier phase-out by 2035. Regarding industry, the environment ministry underlined the country's strategy of electrification and modernisation, and the funding schemes that support investments in decarbonisation. This is complemented by the price signals from the EU emissions trading system (ETS) and the protection afforded by the bloc's carbon border adjustment mechanism, the ministry said. Carbon pricing is an "essential" component of German and European climate policy in the roadmap, and a "vital" driver of the transition away from fossil fuels. Some 85pc of emissions in Germany are currently covered by either the EU ETS or the domestic carbon pricing scheme, the roadmap underlines. Several working groups have been set up since the first international conference on phasing out fossil fuels held by "57 pioneering countries" — including Germany — in Colombia in April, the ministry said, to strengthen international co-operation on key issues relating to the phase-out. The presidencies of this year's UN Cop 31 climate summit in Turkey in November are also aiming to accelerate global electrification further, the ministry said. By Chloe Jardine Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
IEA sets pathway to 35pc electrification by 2035
IEA sets pathway to 35pc electrification by 2035
Edinburgh, 22 September (Argus) — The IEA today released a new high electrification scenario (HES) setting out a pathway to a global electrification rate of 35pc by 2035. This could add 1,400TWh to annual electricity demand and reduce oil demand by 18mn b/d, according to the agency. By 2035, "faster electrification could mean the world is using 18mn fewer b/d of oil than it would have done otherwise, mainly the result of a rapid uptake of electric vehicles in this scenario", the IEA said. This compares with around 10mn b/d of oil demand avoided through electrification by 2035 under current market trends and policies, according to the organisation. Because very little oil is used in electricity generation globally, electrifying transport under the HES would also reduce oil imports "regardless of the electricity generation mix", the IEA said. The HES considers three electricity supply mixes based on the IEA's Net Zero Emissions, Stated Policies and Current Policies scenarios. Under the HES, the increase in annual electricity demand would be twice that recorded over the past decade, according to the IEA. The scenario could reduce energy bills for fuel-importing countries by more than $400bn by 2035, it said. The IEA said CO2 emissions from transport, buildings and industry fall by 40pc by 2035 under the HES, in line with international climate goals. Electrification supports commitments made at Cop 28 to double the rate of energy efficiency improvements and triple renewable capacity, it said. In regions lacking full access to modern energy, improving access to electricity and clean cooking has the greatest effect on raising the electrification rate. The decline in emissions from the three sectors would be sufficient to put total energy-related CO2 emissions on a downward trajectory, regardless of the electricity generation mix, the IEA said. But accelerating electrification will require "scaling up investment in generation and grids, alongside the implementation of smarter and more flexible power systems", while threats to energy security will also need to be addressed. These include concentrated supply chains for key technologies and critical minerals. "Efficiency, renewables deployment and electrification are three mutually reinforcing goals; alongside other technologies, these are critical to pathways that return temperatures to below 1.5°C in the longer term", the IEA said. After 2035, electrifying additional end uses will require technological innovation, while aligning electricity supply with a pathway to net zero by 2050 "would multiply the emissions benefits of electrification", it said. "Net zero pathways ... also require action on technologies like nuclear power, bioenergy, carbon capture and storage, and low-emissions fuels like hydrogen and its derivatives", the IEA said. The report will serve as the basis for discussions during a high-level energy transition dialogue later today on the sidelines of the UN General Assembly. It was produced at the request of the Turkish presidency of the UN Cop 31 climate summit and Australia, which is presiding over the climate negotiations. By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
German Rhine water levels too low for barges this week
German Rhine water levels too low for barges this week
London, 21 September (Argus) — The Rhine River in Germany will be largely unnavigable for standard barges this week because of continued dry weather, shipowners said. The gauge at the critical bottleneck of Kaub measured 15cm on 21 September and is forecast to fall to around 6cm by 25 September, according to the Federal Waterways and Shipping Administration. The lowest ever recorded is 5cm, in August. At these levels standard barges on the Upper Rhine, between Bingen and the Swiss border, will have to stop. Water levels at Duisburg, north of Kaub, are forecast to fall to 136cm this week, and at Cologne they are forecast to drop to 51cm. This will restrict loads to 400-500t for Duisburg and Lower Rhine destinations by the end of the week. Loading standard barges at Cologne will then be impossible, shipowners said. Loading restrictions comes as heating oil demand is rising in Germany, ahead of the colder winter months. Demand has risen nationwide since early September because of low consumer tank stocks, and traders expect further buying interest from early October. Barge freight rates are elevated, but yet to hit the levels seen in August. Shipowners said most Rhine destinations are already unable to receive standard barges without risks that operators will not take. Storage facilities on the Upper Rhine can be supplied only by a few specialised vessels. By Marc Hauschild Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Indonesia may block RKAB for non-compliant miners
Indonesia may block RKAB for non-compliant miners
Manila, 21 September (Argus) — Indonesian coal producers that fail to meet their domestic market obligation (DMO) could be barred from operating the following year, as the energy and mineral resources ministry (ESDM) considers tougher sanctions for non-compliant companies. Firms that miss their DMO quotas currently face escalating penalties, starting with an ESDM fine. These can extend to an export ban until the shortfall is rectified, the suspension of mining activities for up to 60 days, and ultimately the revocation of their mining business licence (IUP), an ESDM official told Argus today. The ESDM plans to withhold approval of the work plan and budget (RKAB) for non-compliant firms, it said. Under existing mining regulations, companies must have an approved RKAB for the year to continue operating. Blocking approval would effectively shut down their operations for the following year, the official said. Stricter measures are being considered to ensure sufficient domestic coal supply, particularly as Indonesia curbs output this year, the ESDM said. Rising coal prices have made exports more attractive, especially with the $70/t price cap on DMO coal sales. This has led to critical shortages of higher-grade coal at power plants run by state utility PLN, causing widespread rotational blackouts in parts of the national grid. The government cut coal production this year, setting output at 600mn t for 2026, compared with 790mn t in 2025. The ministry has since allowed companies to revise their RKABs, but with the changes still under review, the new production target remains unclear, the ESDM official said. By Antonio delos Reyes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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