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Top Philippine coal producer Semirara Mining and Power Corp. said on Thursday it will ship 50,000 tonnes of coal to Japan's Shikoku Electric Power Co Inc. , as it diversifies its export markets and cuts reliance on China.
Asia's imports of seaborne thermal coal surged to the highest on record in May as cheaper prices tempted buyers in the region's developing economies.
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India’s electricity transmission network supplied a near-record amount of power in April but the system was much more stable than the year before thanks to lower temperatures and the return of some gas-fired generation.
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Global thermal coal prices are stabilising this year in a range near $200 a tonne that is less than half of 2022's record highs, analysts and industry officials say, with rising supplies providing respite to consumers roiled by last year's volatility.
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Just four countries account for over half of all thermal coal imports and more than 70% of global power sector emissions from coal use, data shows, underscoring the extent of global dependence on these nations when it comes to cutting pollution.