International Trade In Coal ? Introduction

Current over-capacity in coal production provides assured and relatively low-cost supplies to coal importers. At the same time, it is of serious concern to coal producers who invested considerable sums in the expectation that overseas demand would continue to grow rapidly. This paper assesses the reserves available for export, the export facilities, the coal supplies which can be put through them, and the market prospects for the future. It assumes, rightly or wrongly, that there will be no major and prolonged disruptions in supply from any major sources of coal. COAL RESERVES FOR EXPORT Economically recoverable reserves in the non-communist world amount to about 470 billion tonnes. These are sufficient to sustain current production levels of 2 billion tonnes a year for 235 years.