by jim burrows
Coal companies across the United States are benefiting from exporting. Selling overseas is a great way to grow a business and boost the bottom line. In fact, U.S. coal exports have increased by 61% in 2017, as exports to Asia have more than doubled. These export opportunities are encouraging as U.S. electric utilities continue to close coal-fired power generators and shift toward natural gas.
While exporting makes sense and is not a new concept to the coal industry, there are still plenty of opportunities in untapped markets especially since 95% of the world’s consumers live outside the United States. Despite the potential upside, many companies still feel that venturing overseas is too complicated or too risky. They are reluctant to enter new markets or build sales in existing ones. Some businesses are content with selling to just one or two markets internationally or to a few long-standing buyers.
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