Coal Market News Directory

Thermal Coal Rises on Production Cuts

Thermal Coal prices are rising on production cuts, according to Reuters. Some mining companies are looking to bring down some production capacity in hopes that the action will help ease coal's price woes.

‘Vulture Funds’ Targeting Distressed Coal Companies

According to the Wall Street Journal, 'vulture' hedge funds are targeting distressed coal companies such as Walter Energy (NYSE:WLT). The funds bet against shares and debt of ailing companies, before purchasing controlling shares of the same companies. If companies like Walter eventually go bankrupt, the fund is first in line to claim their assets should they file for bankruptcy.

China to Cap Coal Use in 2020

According to details released by China's State Council on Wednesday, the country's new energy strategy will see coal consumption capped at 4.2 billion tonnes in 2020, the New York Times reported. The strategy follows last week's announcement that China and the United States had signed a deal to cut emissions.

Indian Power Plants Rushing to Finalize Import Deals

Power companies in India are rushing to finalize import deals on the back of lower global coal prices, according to DNA India. Though low costs are making imports seem attractive, the rush has also been triggered by critically low coal supplies at many power plants in the country.

Suspicious Deaths Aboard Japanese Coal Carrier Attracting Scrutiny

Australian Mining reported that the Japanese coal Carrier Sage Sagittarius is under investigation by Australian authorities for concerns about its safety in Australian waters. The ship is already under investigation regarding the deaths of two workers.