Financial Times: Fossil fuels: Low prices fire demand for coal across Europe
The old shipyards have long gone but the Port of Tyne in northeast England still evokes memories of the country’s industrial heritage. The port dominated the UK’s coal export trade for centuries until the mid-1800s.
Changes in the mining industry during the 1990s prompted the port to diversify into other cargoes, but the coal trade has been making a comeback. The difference today is that the flow of cargoes is reversed: Tyne has become an importer of coal, bringing in just over 2m tonnes last year.
The phenomenon is evidence of a wider turnaround for coal, not just in the UK but in the rest of Europe. Demand for coal from power generators has soared over the past two years as that for cleaner natural gas has shrunk, the reason being price. MORE