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.
Vietnam's power sector braces for heavy rains
Vietnam's power sector braces for heavy rains
Singapore, 18 August (Argus) — Vietnam is stepping up preparations to safeguard power infrastructure and maintain electricity supply in the northern region ahead of heavy rainfall and flooding forecast this week. The National Centre for Hydro-Meteorological Forecasting expecting northern Vietnam and the provinces from Thanh Hoa to Ha Tinh to receive 150-300mm of rainfall during 17-21 August, with some areas expected to receive more than 450mm. Heavy rainfall could replenish reservoirs and support hydropower output, which has been weak so far this year and lower reliance on coal-power output, and utility demand for seaborne cargoes. The rains can also disrupt the power supply system in the region. State-owned utility EVN instructed its transmission, distribution and generation subsidiaries, along with the Son La, Hoa Binh, Tuyen Quang and Huoi Quang-Ban Chat hydropower plants, to implement emergency preparedness measures in a directive on 17 August. This followed an order from the country's industry and trade ministry (MOIT) requiring industry departments, power-sector entities, hydropower operators and mining companies to prepare for flooding, flash floods and landslides. The move comes as the country enters the peak of the wet season and the steps are intended to ensure power supply reliability as the peak flood season has also coincided with the region's annual peak electricity consumption in recent years, EVN said. The MOIT also ordered local authorities and industry participants to closely monitor weather developments, review emergency-response plans and ensure hydropower dams, reservoirs and mining facilities are prepared for severe weather. The ministry instructed operators to check communications systems, monitoring equipment, flood-warning systems and emergency-response resources. EVN directed utilities in northern Vietnam and the north-central region to inspect power lines and substations vulnerable to flooding or landslides and prepare personnel, materials and equipment to respond to potential network disruptions. The utility also instructed the Son La, Hoa Binh, Tuyen Quang and Huoi Quang-Ban Chat hydropower plants to closely monitor reservoir inflows and notify downstream authorities and residents before carrying out flood releases. Hydropower output The rains could support hydropower output, and raise its share in the generation mix. Hydropower generation totalled 45TWh in January-July, down by around 9pc from a year earlier, according to Argus analysis of National System and Market Operator (NSMO) data. Lower hydropower availability increased reliance on coal-fired generation, which rose by 12pc on the year to 106.7TWh in the first seven months of 2026, supporting demand for imported coal. Vietnam imported 47.41mn t of coal in January-July, up by 9.8pc from 43.18mn t a year earlier, according to customs data . The statistics do not distinguish between thermal and coking coal. By Saurabh Chaturvedi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE firm to invest in Kazakhstan coal sector
UAE firm to invest in Kazakhstan coal sector
London, 17 August (Argus) — UAE-based private-sector company MQ Emirates has obtained a 25-year licence to a large-scale coal project in eastern Kazakhstan, according to Kazakh government documents released last week. The licence will allow MQ Emirates to start coal mining operations at the Kenderlyk deposit, which is close to Kazakhstan's border with China. Geological exploration will start this year and coal production is expected to begin from 2028, with full-scale operations continuing until 2050. Initial output is expected at 10,000 t/yr, before increasing to 50,000 t/yr by 2034, the documents show. Recoverable reserves are estimated at 940,000t. The Kenderlyk deposit has around 11.3mn t of coal reserves across three coal-bearing seams, according to Kazakhstan's National Geological Service. MQ Emirates will be developing coal field no. 1, which has high-ash content coal, at around 35-40pc. The firm will use open-pit mining. The investment is part of a recent round of foreign interest in Kazakhstan's coal industry, as the government pushes for more development in the sector. It has attracted major investments from Russia, China, Germany and the US this year so far. Kazakhstan plans to produce around 128.9mn t of coal this year, most of which is to meet domestic demand. It is aiming to boost its exports to various countries, especially Poland, which remains the largest European consumer of Kazkh coal. By Shreyashi Sanyal Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Rhine hits record lows, halts shipping south of Mainz
Rhine hits record lows, halts shipping south of Mainz
Hamburg, 13 August (Argus) — Rhine River water levels have again dropped to record lows, and barge operators said most traffic is now halted south of Mainz. Navigation is also increasingly restricted further north, as water levels continue to fall. Freight rates from the Amsterdam-Rotterdam-Antwerp (ARA) hub to Rhine destinations have hit record highs. The water gauge at Kaub, the Rhine's key bottleneck, was at 11cm on 13 August. The Federal Waterways and Shipping Administration forecasts a drop to 6cm by the weekend, another all-time low. At this level, river transport from ARA to the Upper Rhine and Main River is near-impossible. Only a few specialised barges can pass through Kaub under extremely challenging conditions, shipowners said. Storage sites along the Main, including Frankfurt, Hanau and Aschaffenburg, and depots on the Upper Rhine in Karlsruhe, Mannheim, Kehl and Basel, Switzerland, are effectively cut off from ARA. Shipping south of Kaub, to Basel, is barely feasible because of shallow water at the Maxau gauge south of Karlsruhe. Shipowners said quoted spot freight rates for ARA-Karlsruhe cargoes are largely theoretical, as volumes are too low to ascertain a reliable market price. The Argus rate for ARA-Karlsruhe route is a record €215/t, but urgent cargoes that still move to the Upper Rhine on specialised vessels are commanding even higher lump-sum rates. Most transport is confined to the Lower Rhine. Duisburg, Dortmund and Neuss remain accessible from ARA, shipowners said. Of the Cologne terminals — Köln-Molenkopf, Köln-Niehl, Godorf and Wesseling — only the former can still theoretically be served by conventional barges. The others are already too shallow for regular operations. Water levels are also dropping on the Lower Rhine. On 13 August, the Duisburg gauge was 136cm, another historic low. Barges can reach Duisburg from ARA at only about 15pc of capacity, according to shipowners. If Duisburg falls below 130cm, inland shipping could be halted on parts of the Lower Rhine. Forecasts show little short-term relief. While local thunderstorms are expected, dry soils mean these may not raise river levels significantly. A sustained recovery would need widespread, prolonged rainfall across the basin. By Johannes Guhlke and Marc Hauschild Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Thermal coal throughput rises at Indian state ports
Thermal coal throughput rises at Indian state ports
Singapore, 12 August (Argus) — Cumulative thermal coal throughput at India's 12 major state ports increased by just under 5pc on the year in April-July, despite a generally weak import trend during the period, according to data from India's Port Association (IPA). The increase was likely in part driven by the coastal movement of domestic cargoes. The data include transshipped and imported cargoes but does not provide a breakdown. Paradip, on the east coast, accounted for the largest share of the throughput in April-July at 18.9mn t, up from 17.2mn t a year earlier. Kamarajar, formerly known as Ennore, handled 7.98mn t, up from 7.73mn t a year earlier. Deendayal, on the west coast, handled around 6.5mn t of thermal coal, up from about 6.28mn t a year earlier. Mumbai's throughput rose to 3.48mn t from 2.86mn t, while V.O. Chidambaranar handled around 2.8mn t in the four-month period, up from just over 2.45mn t a year earlier. The increase in thermal coal throughput at the ports came despite generally weaker imports, which have been pressured by high domestic supplies. India's coal-fired power generation reached a record high in July because a weak and uneven monsoon curbed hydropower output and supported cooling demand across the country. Coal-fired generation rose by 13pc on the year to 114.7TWh in July, the highest level recorded for the month and 8.4pc above the previous July record of 105.8TWh set in 2024, according to Central Electricity Authority (CEA) data. India's coal output rose for a second month in July to meet strong summer power demand, sustaining a coal surplus, and dampening demand for seaborne coal. By Andrew Jones Indian state port thermal coal throughput '000 t Ports Apr-Jul '26 Apr-Jul '25 SMP, Kolkata 695 768 Paradip 18,882 17,241 Visakhaptnam 3,378 3,211 Kamarajar (Ennore) 7,976 7,732 Chennai 0 0 VO. Chidambaaranar 2,798 2,453 Cochin 0 0 New Mangalore 1,861 2,407 Mormugao 477 783 Mumbai 3,484 2,855 J.N.P.A. 0 0 Deendayal 6,496 6,275 All ports 46,047 43,905 Source: Indian Ports Association Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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