Keeping machines moving

摘要

The fact that demand for many bulk commodities is currently in the doldrums is well known. In fact, investment bank Goldman Sachs issued a report in February claiming that demand for thermal coal could face an "irreversible" decline. For coal producers, this latest in a long line of grim warnings outlines a future of shuttered power plants, mine closures, and bankruptcies. The support previously provided by China's growth no longer seems to offer a respite. And while India could add almost 900 Mt of coal demand by 2040, much of that could be met by domestic producers, such that, according to the bank, "the peak and decline in seaborne trade volumes may arrive earlier than we had previously expected" .