China cuts back on coal – Indian hope fades

China will use less coal, while the hope of an Indian rescue fades, after the country's largest energy producer has announced that it will not need to import more coal this year.

BY NIKLAS KRIGSLUND

Published: 14.04.16 at 13:13

What is one percent of 4.34 million tons? A small disaster if you are a dry bulk carrier.

Analyst firm Alphabulk writes in its latest newsletter that China is planning to reduce coal consumption by one percent in 2016. This corresponds to a reduction of 43 million tons compared to the previous year.