Reduced thermal coal supplies from Indonesia and Australia, combined with demand growth in Asia-Pacific, may support a medium-term recovery in thermal coal prices. Falling thermal coal prices across the seaborne market have contributed to a drop off in shipments from Indonesia, with bituminous material expected to decrease by around 30mn t this year compared with 2013, trading firm Mercuria’s dry bulk analysis and strategy director Fabio Gabrieli told the Coaltrans Japan conference. Higher quality coal exports are dropping faster than overall shipments, he said.
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