Afternoon Coffee: Tianjin Explosions Cause $1.5B in Cargo Losses, China Coal Use 14% Higher Than Previously Thought

coffee cup

The dollar amount tacked on to cargo losses caused by the Tianjin, China, explosions is estimated to total at least $1.5 billion, but could reach as much as $6 billion, a trade report stated.

China has burnt up to 14% more coal between 2000 and 2013 than previously reported, according to the US Energy Information Administration. Coal production in China is also 7% higher.

Coffee demand in China is growing fast. Between 2014 and 2019, coffee consumption in China is expected to rise 18%. In comparison, the US, which consumes far more coffee than China (133.9 billion cups per year compared to China’s 4.5 billion cups) will see consumption grow just 0.9% during the same period.

The West Coast ports brought in far more cargo in August than the same month last year. For example, the ports of Seattle and Tacoma saw imported cargo rise 31% in August compared to August 2014.

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