The National Development and Reform Commission (NDRC) in Beijing has unveiled a domestic coal production reserve system that will commence from 2027.
The system would ensure an emergency 300m tons of annual coal production could be dispatched across the nation when needed from 2030.
Three years ago at a time when the country was hit by crippling energy shortages, China set a goal to have coal reserves equivalent to 15% of annual output stocked at mines, ports, power plants and other designated storage areas.
The new system demands that domestic coal mines that are part of the capacity reserve system must be able to dispatch output when the commodity becomes expensive or supplies are deemed tight.
The People’s Republic is the world’s top coal consumer and producer. China’s seaborne coal imports jumped by 17% in the first quarter compared to the same period of 2023.
The coal session at next month’s Geneva Dry event promises to be one of the gathering’s highlights. Chaired by Burak Cetinok, head of research at Arrow, confirmed panellists include Hamish Norton, the president of Star Bulk, Peter Weernink, chairman of SwissMarine, and Steve Kunzer, the CEO of Lila Global.
Leave a Reply