Commodities
Europe’s Unused Coal Heads to New Shores in Post-Crisis Glut
- Surplus after mild winter caused prices to tumble in Europe
- Over 1 million tons re-loaded and shipped to India and Africa
The outflows are a small supply boon for coal-hungry India and China.
Photographer: Bartek Sadowski/BloombergThis article is for subscribers only.
Traders are seeking buyers for piles of unused coal before it becomes worthless after the fuel was hoarded to save Europe’s economy from running out of power last year.
As concern over energy shortages eased following the continent’s mild winter, imported thermal coal started to be re-loaded at European harbors for markets such as Morocco, Senegal and Guatemala — a reversal in the fossil fuel’s usual flows.