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New UserEurope’s Unwanted Coal Heads to China and India as Heat Builds
31 May 2023
- Shipowner Berge forecasts more Colombian shipments to Asia
- China’s
stockpiles have risen after weak economic recovery
Coal cargoes unwanted in Europe are heading to Asia, where
utilities are stockpiling the fuel amid sweltering temperatures heading into
the summer.
Shipments of about 7 million tons of
Colombian coal will be exported to Asian countries in the next quarter, instead
of ports in Europe, according to James Marshall, chief executive officer of Berge
Bulk Ltd., whose fleet of ships ply those routes. Destinations for
fuel used by power plants and steelmakers include China and India, he
said.