Business News Asia
Worsening global fuel shortage. Asia’s coal benchmark hits record highs, threatening to raise power bills and exacerbate inflation. Last Friday, the price of coal rose 3.4% to a record high of $402.50 per ton. Coal shipments to Europe sold at…
Despite drastic measures to boost coal production, China could face further power shortages this summer. This is because most of the new supply is of lower quality and burns faster in power plants. China, the world’s largest coal consumer, gets…
European countries are looking for alternatives to Russian coal. Coal imports from South Africa’s main export center rose by 40% in the first five months of this year, more than in 2021. South Africa’s Richards Bay Coal Terminal (RBCT) shipped…
The Chinese Ministry of Finance has announced that China will temporarily reduce import tariffs on all types of coal to 0%. The measure will be in effect from May 1, 2022, to March 31, 2023, and is intended to increase…
Federal Reserve (Fed) Chairman Jerome Powell reiterated the Fed’s position on interest rates in his speech at an IMF-sponsored seminar Thursday (April 21, 2022). The Fed sees inflation running away and wants to use its tools to stop it. “Getting inflation back…
Fossil fuels such as coal, gas, or oil are increasingly being cast in a bad light, precisely because of their high carbon emissions. Some countries have already taken steps to reduce CO2 emissions by expanding solar, hydro, wind, or even…
Oil Crude oil prices have been volatile this year, which is probably also due to speculation, as the price moves with almost any news related to Ukraine or Russia. However, the trend in oil prices remains upward, even though the…
The EU has voted by a majority in favor of the fifth round of sanctions against Russia. According to the EU press release, the new sanctions package includes: — ” a prohibition to purchase, import or transfer coal and other solid…
Coal prices have risen again in the last seven days after Russian energy products, including coal, are again openly discussed. The EU Commission has come out in favor of tightening sanctions against Russia, which means a ban on energy products…
Coal mining and the generation of energy from coal are being pushed back further and further in the Western world, especially in the United States and the EU. This is mainly due to the high CO2 emissions caused by energy…
