Coal exports become profitable as worldwide demand surges and prices rise

According to analysts at Poland's biggest coal exporter,Weglokoks, coal exports are becoming more profitable as the result of a 60% jump in prices at the major European ports over the last 18 months. While in mid-2000 a ton of coal in the European ports cost about $26.6 (including freight costs), in December the price rose 62%, exceeding $43, the result of growing demand. This year Weglokoks alone expects to sell more than 20.5 million tons of coal abroad, while total Polish coal exports will amount to 23 million tons. "It means that Poland has 4.4% share in the world coal market, with Weglokoks having 3.9%," said Jerzy Galemba, head of market research at the Katowice-based company. (Puls Biznesu, p.5, Rzeczpospolita, p.B3) P.J.