Exactly. This is a market signal that coal is far from over. As a global resource, coal is ubiquitous. We have existing tech and infrastructure to burn it. (Unlike the more valuable natural gas and petrol, which are in the hands of a few producers and prone to erratic leadership and price fluctuations.)
Many regions across the world have access to coal deposits of various quality, why would they not use them? Because coal is "bad for the environment"? Mkay.
Coal is a convenient and nearby energy source. It's quite obvious that affluent Europe is turning to coal as quickly as possible, abandoning or diluting its green-energy rhetoric. We'll burn coal and someone else will deal with pollution, climate change, etc.