Beijing reveals coal reserve system

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Beijing’s National Development and Reform Commission (NDRC) has announced the launch of a domestic coal production reserve system set to start in 2027, designed to mitigate potential future energy shortages by ensuring a standby production capacity of 300 million tons annually by 2030. This initiative follows energy crises that prompted China to establish a goal three years ago to maintain coal reserves at 15% of annual output. The new system will require participating coal mines to ramp up production when prices rise or supply tightens. This development coincides with a 17% increase in China’s seaborne coal imports in the first quarter compared to last year. The upcoming Geneva Dry event will feature a coal session that is expected to be a focal point, with industry leaders such as Hamish Norton of Star Bulk and Peter Weernink of SwissMarine discussing these developments.

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