(Reuters circulated the following on July 23.)
CHICAGO — Global demand for U.S. coal should remain strong “through 2010 and beyond,” the top executive of U.S. railroad Norfolk Southern Corp. said on Wednesday.
“We have seen no indication that this (strong demand) is going to change any time soon,” Chief Executive Wick Moorman told Reuters in a telephone interview. “There are no new big suppliers expected to hit the market and there are no signs of any slackening in demand.”
Moorman added that the prices the railroad charges to haul freight should remain strong throughout 2008 and said Norfolk Southern has seen “more and more interest” from trucking companies looking to put freight on the rails, which are far more fuel efficient than trucks.