Weekly Coal Index report
European power and gas prices had a volatile week as recent cold weather subsided. However, coal prices held up well, in a sign that strained renewable power grids tend to fall back on coal and gas as solar power fades, and wind turbine blades ice up. With frozen seas impacting on Russian coal supplies, and sharply higher European coal demand, panamax rates have seen a surge to multi- year highs in the Atlantic. India has once again proposed new rules to liberalise the sale of domestic coal from captive, State-owned mines, in a move to try and reduce the country’s reliance on imports. As one of the world’s largest coal producers, Coal India could do real damage to South African exporters if it gets its act together to liberalise its coal sector.