Norden, Ultrabulk already benefit from European coal demand
Dry bulk carriers such as Norden, Ultrabulk and Lauritzen Bulkers are clearly feeling the effects of Europe’s ongoing efforts to switch from gas to coal. Norden already transports 25% more coal, to Rotterdam in particular. Ultrabulk predicts coal will soon become the carrier’s biggest commodity.
Gas, in short supply at European power plants, very much looks set to be replaced by coal, an outlook that’s already being felt among major dry bulk companies.
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