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Peabody Energy Corp. Message Board

  • msccube msccube Jul 3, 2008 12:45 AM Flag

    Very Good News from Vietnam

    Vietnam to Reduce 2008 Coal Exports by as Much as 38%

    July 3 (Bloomberg) -- Vietnam, China's biggest overseas coal supplier, will cut overall exports of the fuel by as much as 38 percent to 20 million metric tons this year to ensure domestic supplies.

    The Southeast Asian nation will reduce its 2008 shipments from more than 32 million tons last year, Nguyen Thanh Bien, vice minister of industry and trade, said at a government meeting in Hanoi yesterday.

    A cut in Vietnamese coal exports would force southern Chinese power producers to transport fuel from northern mines or import it from further afield. Coal accounts for about 78 percent of the nation's power generation.

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