Global Coal Exports at Record Levels - Despite Green Initiatives, Many Countries Continue to Increase Production
Global exports and use of thermal coal will reach all-time highs in 2024, despite record renewable energy capacity production on all major continents.
Thermal coal exports through the first 11 months of 2024 rose by 9 million metric tons from the same month in 2023, according to Kpler data, and will rise further in December as energy firms prepare for winter of the northern hemisphere.
Global coal-fired power generation in 2024 is up about 2% to the highest levels on record, while coal-fired power emissions are also at historic highs, data from energy think tank Ember shows. The continued expansion of coal imports and use underscores the difficulty of weaning fossil fuels from energy systems and may disappoint those hoping for a coal-burning peak.
However, climate campaigners can take heart from the slowdown in the pace of export growth, which at just 1% marks the smallest annual expansion since 2020, when COVID-19 lockdowns caused a rare contraction in energy production around the world.
For Indonesia, the world's largest coal exporter, 2024 will mark the first time the country has shipped over 500 million metric tons of thermal coal, according to Kpler. Australia will be second with around 203 million tonnes, followed by Russia (94 million tonnes), South Africa (55 million tonnes) and Colombia (50 million tonnes).
Just 10 countries account for 87% of global coal imports so far in 2024: China, India, Japan, South Korea, Taiwan, Vietnam, the Philippines, Malaysia, Turkey and Thailand. And half of these buyers will record an annual decline in coal purchases in 2024. Unfortunately for climate advocates, top coal consumer China, which accounts for 35% of all thermal coal imports, remains in the import growth category. China expanded imports by about 8% to a record 340 million tons from January 1 through the first week of December, according to Kpler. But over time, China's total coal needs are expected to decrease, reducing production and imports.
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