AUTHOR
Henriksson, Eva

DATE
2002-12-19

DEPARTMENT
Business Administration and Social Sciences / Economics

SUMMARY
During recent years many analysts have considered the international coal market as an essentially unified global market. One reason for this may be that during the last decade the coal market has been characterized by a wave of mergers and acquisitions. One important question that this raises is if the stronger market position of the merged companies makes it possible for them to exercise their market power? When it comes to analysing whether or not a merger would result in higher prices to the customers it is necessary with a clear definition of the relevant market. This thesis delineates the international steam coal market, for the years 1980, 1990 and 1998, using the Elzinga-Hogarty test. The regional aggregates, Europe and Asian-Pacific are used as starting points. The international steam coal market shows evidence of increased market integration over time and the reason for this is probably a more developed seaborne trade with steam coal, a decrease in European steam coal production and at the same time an expansion of the Asian-Pacific market.

ISSN 1404-5508 / ISRN LTU-SHU-EX--03/027--SE / NR 2003:027