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Misery looms over top coal shippers as China to buy less in 2020

Bloomberg
Bloomberg12/23/2019 08:18 AM GMT+08  • 3 min read
Misery looms over top coal shippers as China to buy less in 2020
SINGAPORE (Dec 23): China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
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SINGAPORE (Dec 23): China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.

The world’s biggest coal buyer will likely purchase less from overseas in 2020 after a boost this year, according to analysts. With domestic production rising to a record and overall demand nearing a plateau, miners from top exporters such as Indonesia and Australia will find themselves squeezed.

China’s coal imports have raced ahead in 2019, surprising many who had predicted that the government would strictly clamp down on shipments in the later months just as it did in 2018. With economic growth at its weakest in decades amid a trade war with the U.S., import curbs were eased on the nation’s most-consumed fuel to help mitigate the pain of a slowdown.

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