Reasons can be found for (limited) thermal export optimism

摘要

While there may be a shipment or two added to the books before 2019 is over, the expectation is that most of the exports for 2019 are done deals. Which brings us to 2020. Export volumes this year are going to be down from 2018 and next year hasn’t gotten off to a smoking hot start. One source said that a lot of the coal still moving was hedged back when the market was good, but there’s not a lot of those deals that are going to carry over into next year.