Wood Mackenzie expects to see further cuts throughout the year and investment levels continue to shrink as more projects are dropped and companies struggle to breakeven.
Up to 1 billion tonne annual supply gap in seaborne coal by 2030 if no new mines are built according to climate change report by Swiss mining, trading giant.
"The long-term market where normally about 150–160m pounds were traded each year – in the last three or four years it’s been about a one third of that."