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.
Philippines issues emergency orders for energy security
Philippines issues emergency orders for energy security
Singapore, 26 March (Argus) — The Philippines is implementing energy-conservation directives, including measures that could lead to greater reliance on coal-fired generation, as part of a broader energy conservation drive after the country declared a state of emergency on 25 March following supply disruptions caused by the US-Iran war. President Ferdinand Marcos launched a 20bn Philippine peso ($33.2mn) emergency fund on 26 March to strengthen fuel security in times of volatility in the global energy and freight markets caused by the war. The Philippines is a net importer of coal, oil and LNG. The P20bn emergency fund, managed under the department of energy's (DOE) emergency energy security programme, will support the stockpiling of up to 2mn bl of fuel to meet domestic requirements and reduce the impact of supply disruptions. This includes the procurement of refined petroleum products such as LPG to build inventories. The DOE will also ensure stable fuel inventories at utilities to support electricity generation. The DOE also seeks to minimize external supply shocks for utilities and ensure full capacity utilisation at power plants in line with its goal of boosting power system efficiency. An increase in coal-fired generation within the overall power mix could cushion an increase in wholesale electricity spot market (WESM) prices and help in saving up to P2/kWh, the DOE said. This comes as an initial projection by the independent electricity market operator (IEMOP) indicate that average power prices in the WESM could exceed P9/kWh, from an average of up to P5/kWh before the onset of the US-Iran war. Coal accounted for 54.6pc of power generation in February, IEMOP data show. The DOE's emergency measures to secure power supply could increase utility demand for both domestic and imported coal, although it was not immediately clear if the directives would curb coal exports from the country. "As a net importer of oil, coal and LNG, we are acting with heightened discipline to preserve power system reliability in the face of escalating global fuel market volatility," the country's energy secretary Sharon Garin said today. "This is a decisive intervention to protect the grid, manage fuel use responsibly and ensure that essential electricity services remain uninterrupted," she added. The DOE has ordered power generators to closely monitor fuel inventories and comply with the 15-day supply requirements. Utilities have also been instructed to explore fuel alternatives to reduce costs and ensure adequate supplies. Potential steps include using higher biodiesel blends in oil-based power plants, blending different coal grades, and increasing co-firing of biomass where possible at coal units. The country will rely more heavily on coal-fired output , Garin had said during a press briefing on 24 March. Most of the Philippines' power generation depends on seaborne imports from Indonesia. Nearly all of Philippines' coal imports in 2025 were from Indonesia, with shipments reaching 37.4mn t, according to the customs data. The country's reliance on Indonesia also exposes it to supply uncertainty, as Jakarta has yet to confirm mining production quotas for 2026 at the time of writing. Garin met Indonesia's ambassador earlier to seek assurance of steady supply, saying on 24 March that there are "no restrictions on imports of coal from Indonesia at this moment." By Nadhir Mokhtar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Planning key to push climate action: Cop 30 president
Planning key to push climate action: Cop 30 president
Houston, 25 March (Argus) — Roadmaps to transition away from fossil fuel transition and end deforestation for the next round of UN talks will support moving from consensus to action in global climate efforts, Cop 30 president Andre Correa do Lago said. The Cop 30 presidency's pledge to create two roadmaps towards phasing out fossil fuels and ending deforestation "will be very much instruments to stimulate implementation," Correa do Lago said on Tuesday at the CERAWeek by S&P Global conference in Houston. The Cop 30 presidency last month opened a public call for countries to submit proposals for its two roadmaps by 31 March to the UN Framework Convention on Climate Change (UNFCCC) secretariat. Technical documents for the roadmaps are planned to be ready by October. Correa do Lago emphasized the importance of action and implementation over trying to achieve consensus, given the urgency presented by climate change. While designing Cop 30 last year, "we tried to — taking into consideration, obviously, the limits of the Cop — to preserve the best of [the Paris Agreement] … but also open the door to the actors that are essential for the implementation," he said. In particular, it is important to expand the dialogue beyond the public sector and towards private entities, which typically are not privy to the negotiations that occur during Cop, but will be key players in implementing the terms that are ultimately agreed upon, he said. "I think that this expansion of the theme of climate is essential for us to continue this agenda. We cannot continue to work in a silo in which only a few people can talk about climate," Correa do Lago said. That sentiment was echoed by Sasha Mackler, senior vice president and global head of strategic policy at ExxonMobil. Meeting electricity demand, which is projected to surge due to growth in data center capacity and increasing electrification, while also achieving reductions in emissions will be a major challenge in the future, he said. The oil and gas industry's role in transitioning away from fossil fuels "could be quite significant because we know that for the foreseeable future, oil and gas will be with us," Mackler said. "The world has an enormous appetite for energy, and that appetite will continue to grow over time." In addition, the roadmaps are "super important to give us the means to explore" ways to solve the technological challenges arising from transitioning away from fossil fuels as well as scaling the deployment of clean technology, said Benoit Faraco, France's ambassador for climate. "When you look at the global picture, there is a very strong appetite for this kind of conversation, including with a lot of emerging economies that are definitely wanting to move in this position," he said. The US retreat from its leadership on climate policy will likely cast a shadow over the upcoming Cop 31 climate summit. President Donald Trump's withdrawal from the Paris Agreement formally took effect in January , and soon after he called for an exit from the UNFCCC. This could pave the way for China to take a larger role in global climate conversations. The country has recently made "pretty substantial pledges" to lower emissions, according to Joseph Majkut, director of the energy security and climate change program at the Center for Strategic and International Studies. Still, "China's position as a leader is also kind of tenuous" since, despite being a leader in renewable energy and electric vehicles, it is "still a receiver of climate finance overall," Majkut said during a separate panel at CERAWeek. By Ida Balakrishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Kazakhstan approves $15.5bn national coal power plan
Kazakhstan approves $15.5bn national coal power plan
London, 24 March (Argus) — Kazakhstan has approved plans to increase its coal-fired power generation through projects estimated at around 7.5 trillion tenge ($15.5bn) through to 2030, President Kassym-Jomart Tokayev said. Tokayev approved the plans after assigning coal-fired power generation a national project in January. These include the commissioning and renewal of coal-fired units to add 7.8GW of capacity. The country also plans to build eight new thermal coal-fired power plants, including its largest 2.64GW facility in Ekibastuz. Thermal power plants would also be built in Kurchatov (700MW) and Zhezkazgan (500MW), as well as in the Kokshetau, Semey and Ust-Kamenogorsk regions. Older thermal coal-fired power plants, such as the 1GW Ekibastuz-2 and 2.5GW Aksu power plants, and the Karaganda-1 power station, will be modernised to reduce energy shortages. Kazakhstan expects the projects to create additional thermal coal demand of about 20mn t/yr by 2030. The project is expected to be a collaboration between the mining and transportation sectors. The project will also expand the fleet of gondola rail cars by 600 units/d, modernise railway infrastructure and introduce tariff corridors for the transportation of fuel for domestic needs. Kazakhstan had initially drafted the plan to increase its coal-fired power generation in early February. The country will likely need to rapidly increase coal production. Output fell by 6.2pc on the year to 18.22mn t in January-February, official data show. The country produced 115.9mn t of thermal coal in 2025, about 6.5pc higher on the year on growing domestic consumption and rising export potential. By Shreyashi Sanyal Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan's Kyushu to restart Sendai No.2 nuclear reactor
Japan's Kyushu to restart Sendai No.2 nuclear reactor
Osaka, 24 March (Argus) — Japanese utility Kyushu Electric Power is planning to restart the 890MW Sendai No.2 nuclear reactor on 30 March, to conduct test generation in the final phase of its turnaround. Kyushu is set to reactivate the No.2 reactor at Sendai in southern Japan's Kagoshima prefecture on 28 March and reconnect it to the power grid on 30 March. Normal operations are scheduled to begin on 28 April. Kyushu will have all four of its reactors in operation, given the return of the Sendai No.2 reactor. This is until the planned shutdown of the 1,180MW Genkai No.3 reactor on 30 June for regular maintenance. The combined nuclear capacity of 4,140MW will help Kyushu reduce its reliance on thermal generation, especially at a time when spot LNG prices are surging because of supply disruptions from the Middle East. Seasonally weak electricity demand and relatively ample solar output during the spring shoulder season will also enable Kyushu to cut thermal generation. The nuclear capacity could reduce LNG consumption by about 390,000 t/month, assuming an average gas-fired generation efficiency of 50pc. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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