Last Updated : 02 February 2012 at 16:05 IST
Global coal demand picking up on cooling economic crisis
The global coal industry, which experienced a prolonged spell of bleakness in 2008-09 due to the worldwide economic crisis is now finally looking up and providing a better outlook, according to New Report by Global Industry Analysts, Inc.
India's gold and silver imports declined by 80.55% to $1.05 billion in November compared to $5.4 ..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
NEW YORK (Commodity Online): The global coal industry, which experienced a prolonged spell of bleakness in 2008-09 due to the worldwide economic crisis is now finally looking up and providing a better outlook, according to New Report by Global Industry Analysts, Inc.
According to the report, the global coal consumption is likely to reach 5,168 million tons of oil equivalent (MTOE) by 2015 as the demand is picking up on the back of huge appetite for thermal and metallurgical coal from emerging nations such as China and India, as well as resurgent demand from developed countries in the aftermath of the Japanese nuclear incident.
Coal, a low-cost and relatively abundant fossil fuel, is an important source of heat and energy. Recoverable coal reserves are present in about 70 countries across the globe, and coal mining is undertaken in about 52 countries.
Globally, coal is an important source of electricity generation, with coal and coal-derived fuels powering about 40% of the electricity generation worldwide. The percentage of dependence on coal for electricity generation is significantly higher than the global average in countries such as US, Poland, China and Australia and also the metallurgical or coking coal, a major component in steel manufacture.
The consolidation phase that began in 2011 in the global and in particular the US coal industry is expected to continue in the near term. Although the coal industry displayed resilience in the face of changing environmental policies in the near term, the shift towards eco-friendly and renewable energy sources in the developed economies is a concern for the industry in the long term.
The research report titled “Coal Industry: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings.
- Indian Railways carry 677.56 mn tons of freight during April-Nov 13
- Shale Gas boom or bumper crop: What will drive the Guar complex?
- Indian Sugar industry should maintain market equilibrium, diversify products: Minister
- India Diesel prices may not be hiked, OMC's not to be impacted: Ind-Ra
- India merchandise trade deficit narrows despite slowdown in export growth
- Gold slides back after gains on short covering, fresh buying