Shipping companies that transport the world’s coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel. In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the dry bulk industry told Reuters they were either reducing their exposure to vessels that transport coal or were considering doing so. Such carriers – titanic vessels stretching up to 270 meters (885 ft) long and able to carry hundreds of thousands of tonnes of cargo – are the cheapest way to transport coal and other commodities like iron ore and grain in large quantities. Swiss Re (SRENH.S) told Reuters that from 2023 it would no longer cover the transport of thermal […]