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Coal industry in turmoil
Dec 13: In many ways the coal industry is in severe stress.
8Coal prices have risen in 2016 amidst high volatility and uncertainty.
8Here is what is happening to the industry:
8Global demand growth to stall in the next coming years
8With decline in Europe and US almost offsetting increase in India and ASEAN region, China will determine the global trends
8In China, coal demand is in structural and slow decline driven by a new economic growth model and diversification from coal
8However, dependence on coal of China will remain and demand in 2021 is forecast higher than in 2015
8Coal trade contracts, but recovers over time
8Viet Nam, Malaysia, Pakistan, Philippines, Morocco and other importers add up to increase coal trade
8Coal prices have strongly rebounded up in 2016. As a result, the coal industry has found some relief
8Looking ahead, low costs, slugging demand and structural oversupply in China do not support high prices
8Despite concrete progress, CCS development requires stronger support and commitment by governments
8Without CCS deployment, coal’s future is seriously challenged, but that can also upset the global climate targets
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