If Coal Is Dead, Then Why Are Ships So Full Of It?

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Zero Hedge: Amid all the talk of global warming, climate change-induced catastrophes, decarbonization and green finance, the global trade in “dirty” coal is enjoying an ironic renaissance. Bulk ships are busy transporting coal to Asia — and to eco-conscious Europe — boosting freight income for some of the very shipowners who publicly tout their environmental bona fides to investors.

 “He causes the vapors to ascend from the ends of the earth; He makes lightning for the rain; He brings the wind out of His treasuries. Psalm 137:5

“Turns out the news of the demise of coal has been greatly exaggerated,” said Stifel analyst Ben Nolan in a new client note. “Despite an unseemly carbon footprint, coal demand is actually accelerating this year.”

Coal is transported aboard larger bulkers known as Capesizes (ships with a capacity of around 180,000 deadweight tons or DWT), as well as on sub-Cape vessels such as Panamaxes (65,000-90,000 DWT) and Supramaxes (45,000-60,000 DWT).

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