This was posted on CCC and anyone trading in Coal will find it very uplifting I think the 24 trades will be long gone soon
Peabody says coal is set to embark on a 30 year super cycle and has planned an aggressive growth strategy in Asia as it seeks to capitalise on the exceptional economic growth in the region. Peabody delivered an exceedingly bullish view on coal, with CEO Greg Boyce quoted as saying l believe were in the early stages of a 30-year super cycle for the global coal market adding its the only suitable fuel to supply electricity at scale. Boyce said that there will be a global coal demand growth of 3bn by 2030 and that 90% of this will come from Asian economies.
Asia growth will add up to an increase of 300-400mt/yr of additional seaborne coal demand by 2015, to 1.2bnt/yr, from around 800mt/yr currently. China will need an extra 50-150mt/yr of imports from seaborne markets by 2015, India will require 100-150mt/yr more, while Japan, South Korea, Taiwan and other pacific countries will need 80-135mt/yr of seaborne delivered coal in additional of their current requirements. India is working hard to catch up, Boyce said, adding: India officials tell us they could be 200mt/yr short of coal in the next four to five years.
China set to become largest importer of thermal coal - China set to overtake Japan as the worlds largest importer of thermal coal as soon as this year. The speed at which Chinese coal imports are growing is surprising mining companies, traders and policymakers. Traders and policymakers said they expected China's thermal coal net imports to hit 105m-115m tonnes this year, level with or above Japan, which is expected to buy about 110m tonnes.
from: Capital Investment Partners June 28 2010 update
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