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South African Thermal Coal Exports to Reduce - IEEFA

Coal News - Published on Thu, 19 Sep 2019

Image Source: ee.co.za
According to a US research group Institute for Energy Economics and Financial Analysis South Africa’s thermal coal exports are expected to drop as its main export hub faces growing competition and new cheaper energies proliferate. Analyst Simon Nicholas said “New energy technology is replacing coal-fired power faster than most predicted. With fewer countries using the fuel, South Africa will increasingly vie for customers with other exporters around the world. The global seaborne coal trade is set to go into permanent decline. South Africa will see increased competition in markets around the world from other major thermal-coal exporters such as Indonesia, Australia and Russia.”

He added “While coal’s demise won’t happen overnight, the country’s policy makers need to prepare for the transition. By 2030, new wind and solar will be cheaper than running existing coal- or gas-fired plants virtually everywhere in the world. This is already the case in India, South Africa’s major coal-export destination. Policymakers in South Africa need to prepare for the ongoing technology-driven transition away from coal or face the inevitable social and economic consequences.”

Exports of the fuel from the Richards Bay Coal Terminal, located on South Africa’s east coast, totalled 73.5 million tonnes in 2018, and are targeted at 77 million tonnes this year.

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Posted By : Rabi Wangkhem on Thu, 19 Sep 2019
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