Europe's unwanted coal heads to China and India as heat builds

Coal cargoes unwanted in Europe are heading to Asia, where utilities are stockpiling the fuel amid sweltering temperatures heading into the summer.

Shipments of about seven-million tons of Colombian coal will be exported to Asian countries in the next quarter, instead of ports in Europe, according to James Marshall, chief executive officer of Berge Bulk, whose fleet of ships ply those routes. Destinations for fuel used by power plants and steelmakers include China and India, he said.

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