Coal Demand Picks Up Steam
04 März 2011 - 2:45PM
Marketwired
As the economy continues its journey towards recovery, demand for
continues to skyrocket. Emerging markets -- particularly China and
India -- have played a critical role in coals resurgence, while the
devastating floods in Queensland Australia earlier this year has
put a premium put on North American and U.S. met coal production.
In addition, higher oil prices have pushed coal's price up as coal
can be used as an alternative for electricity generation. The
Bedford Report examines the outlook for companies in the Coal
Industry and provides research reports on Patriot Coal Corporation
(NYSE: PCX) and Peabody Energy Corporation (NYSE: BTU). Access to
the full company reports can be found at:
www.beddfordreport.com/2011-03-PCX
www.bedfordreport.com/2011-03-BTU
Luke Popovich, a spokesman for the National Mining Association,
said the U.S. serves as a swing coal supplier to the world market.
Popovich explains: "When Queensland flooding and China's rapid
cost-recession recovery created a spike in demand to feed China's
coal demand, our exports spiked up."
Popovich added that China is a "big factor." Indeed an official
with the China's coal association said late last year that the
country's demand for coal will continue to increase in the next
five years and is expected to reach 3.8 billion tonnes in 2015.
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Earlier this week Peabody Energy announced plans to ship
approximately 24 million metric tons of thermal coal per year out
of a new terminal planned for Washington State. Peabody says that
the plan would boost US exports by almost a third from current
levels. The cost of the facility is estimated at about $500
million. Its maximum capacity for coal would be about 48 million
tons.
Peabody serves customers in more than 25 countries on six
continents and has trading and business offices in Indonesia,
Singapore, China, Australia, the United Kingdom and the United
States.
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