UK ports look beyond fading coal imports says the FT:
Ports from south-west England to central Scotland have been taken aback by the speed at which demand has evaporated for what had been one of their most dependable cargoes — coal. As coal-fired power stations across the country shut, ports have been hit by a sharp drop in imports… At the Port of Tyne — located on a river that has shipped coal since the 14th century — coal imports are expected to dive from a record 5m tonnes in 2013 to zero this year… In recent decades, imports have been boosted by the contraction of UK coal mining and the need for low sulphur coal to meet rising environmental standards. But last month a historic “zero coal” milestone was reached when on seven separate occasions in one week Britain was powered without any coal-power station burning. As a consequence imports of coal to the UK are plummeting.
Which is interesting. As is Danish pension scheme threatens to blacklist coal companies (also in the FT; really, its the only place for real news) featuring
Businesses that rely on coal for at least a quarter of their revenues face being blacklisted by one of Europe’s largest pension funds amid fears that high-carbon investments could end up being worthless… “We certainly believe there is a financial risk [when it comes to investing in coal companies], otherwise we wouldn’t have taken [these] steps. At the end of the day, we are here to provide the best possible returns for investors.”
Ah, those are the kind of people you want to hear saying things like that.
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