A recovery in the global seaborne coal markets is unlikely in 2019 given a possible oversupply of 25mn-30mn metric tonnes this year if exports are not reined in, Rodrigo Echeverri, the head of research at Noble Resources, said this week. Total seaborne supply from many countries, and particular- ly Indonesia, could rise by around 25mn t to 1.02bn t this year, compared with relatively flat demand of 996mn t, according to Noble calculations. If nothing changes, 25mn-30mn t will need to be cut as it “cannot be absorbed by the market,” Echeverri told the Coaltrans Asia conference in Bali, Indonesia.
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