Economics of the International Coal Trade

This book is the updated and revised second edition of a well-received volume presenting the popular topic of the use of coal in the modern world. It focuses on the role of steam coal for today's energy markets, particularly electricity markets. The book examines how coal is used in the modern world and provides answers to the following questions: (a) where this power comes from, (b) why coal continues to be the main source for power in the world and (c) how the demand for energy can be met in an environmentally sustainable way while simultaneously evolve towards the "New Energy Revolution". It starts with a review of coal's origin and source, details all analysis and sampling topics about steam coal and newly added for coking coal. Secondly, it compares coal to other energy resources and speculates on a greater role for coal in the medium-term future. Thirdly, it profiles all major steam coal exporting and importing nations as well as the freight market. Environmental issues, especially CO2, are reviewed in detail. Fourthly, it examines the structure of the steam coal market, contract terms, derivative markets, FOB costs, and the current investment sentiment about coal. The final chapter summarizes conclusions and predictions. Coal is the most important source of power on our planet. Today coal accounts globally for 40% of electricity generation and 30% of primary energy, however the world's demand for energy is still far from being met. Until 2030 an additional 5+ billion people require access to proper power.