Coal news and updates

Europe’s Unwanted Coal Heads to China and India as Heat Builds

• Shipowner Berge forecasts more Colombian shipments to Asia
• China’s stockpiles have risen after weak economic recovery

Coal cargoes unwanted in Europe are heading to Asia, where utilities are stockpiling the fuel amid sweltering temperatures heading into the summer.

Shipments of about 7 million tons of Colombian coal will be exported to Asian countries in the next quarter, instead of ports in Europe, according to James Marshall, chief executive officer of Berge Bulk Ltd., whose fleet of ships ply those routes. Destinations for fuel used by power plants and steelmakers include China and India, he said.