NZ ships more coal

The outlook for New Zealand coal exports is bright.

Solid Energy, a Christchurch-based coal company, expects to set a record for the fiscal year ending June 30, 2002, with forward orders projected to increase exports by 10% to 1.8 million tonnes.

Foreign demand for the country’s coal is high, as is domestic demand, which is expected to grow to 2 million tonnes from 1.3 million tonnes within five years.

Solid Energy expects its exports to grow even faster over the next five years, and says that, by 2006, they should reach 4 million tonnes per year, compared with 1.7 million tonnes last year.