For only the second time this century shipments of thermal coal are on course to slip this year. Alphabulk is predicting shipping will lose up to 100m tons of thermal coal cargo this year with the world’s two most populous nations – India and China – responsible for the biggest drops.
Australia’s Department of Industry predicts Indian thermal coal imports will drop by more than 20% this year.
As Splash reported earlier this month, seaborne thermal coal trade has slipped back to 2018 levels, sliding 7% in the first five months of the year.
Out to 2024 brokers Braemar ACM are forecasting total coal volumes to gradually edge downwards.