China’s Aug coal imports from Russia, Indonesia soar as heatwave spurs power use

SINGAPORE – China’s coal imports from Russia rose in August, exceeding last month’s level and hitting the highest in at least 5 years, as power utilities in the world’s biggest coal consumer sought overseas supplies to meet soaring demand in extreme hot weather. Arrivals of Russian coal last month reached 8.54 million tonnes, up from […]

Glencore to return $6 billion to shareholders as profit doubles to record

LONDON (BLOOMBERG) – Glencore will return an additional US$4.45 billion (S$6.14 billion) to shareholders in dividends and share buybacks as first-half profit more than doubled to a record thanks to surging coal prices. Glencore, the world’s top coal shipper, has been one of the biggest winners from the global energy crunch as demand for the […]