Increased European Coal Use Likely to Push Shipping Rates up

Reuters reported that increased use of less costly coal for energy in Europe is likely to support a spike in demand, which will likely push shipping rates up.

As quoted in the market report:

Coal demand is forecast to remain robust through 2013. In Europe, coal prices are expected to remain competitive against natural gas, supporting our forecast for continued import growth,” said consultants Maritime Strategies International.

To view the whole Reuters report, click here.