Emerging Markets to Step Up as China Cuts Coal Habit
From Business World
By John McGarrity
Global thermal coal demand will shift away from China in coming years as it switches to cleaner energy, but emerging markets in the region will step in to grab some of that flow as they continue their race to industrialize.
During the last decade global coal demand has largely been driven by a booming China, but in a move to curb pollution, the government is keen to switch to cleaner fuels to generate electricity, such as natural gas, nuclear and renewables.
Even if China cuts back its coal habit, analysts say global coal use will still increase as Southeast Asia’s economic rise will be fueled by coal, proof of the theory that few countries have industrialized effectively without heavy use of a fuel blamed for pollution and climate change.
This shift will shake up the pattern of Asian seaborne coal trade, which currently focuses on routes between shippers such as Australia, Indonesia or South Africa to established consumers in China, Japan, South Korea and Taiwan.
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