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The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest importer of coal this year.
Although many of China’s major bulk imports, such as iron ore and crude oil, have seen strong growth so far this year despite the COVID-19 pandemic, imports of coal have followed the opposite trajectory.
In a notice released on 5 May 2022, India’s Ministry of Power instructed all power plants to increase their imports of coal. Specifically, the Ministry demands that power plants designed to run on domestic coal start importing at least 10% of their requirements.
Coal demand resurged in 2022, almost surpassing its all-time peak in 2013, which has led many to question whether coal truly is dying. As one of the three major bulks, accounting for around a quarter of bulker demand, future coal demand is one of the key factors guiding the dry bulk sector in the coming decades, and a main driver of investment decisions.
US seaborne coal exports are up 57% in total volume and 61% in terms of tonne-miles for the first five months of 2017 compared to the same period last year. If US coal exports remain high throughout 2017 it will have a solid effect on the global seaborne coal trade and support the overall improvement in the dry bulk shipping industry.
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volumes in 2016. This comes as a result of the UK starting a concerning trend for the dry bulk shipping industry, by close to doubling its Carbon Price Floor (CPF).
There has been much talk in recent weeks and months about Chinese coal policy, particularly with regard to imports from Australia, after anecdotal evidence suggest Chinese importers have been told to shun Australian thermal coal.
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected electricity demand.
Australia and Indonesia, being the main exporters of coal to China, are growing their market share at the expense of longer haul exporters like the US and South Africa.
The BIMCO Liquid Cargo database is intended for use by for shore-side staff and to some extent for newcomers on board tankers and should only be used as a reference tool providing brief information regarding the more than 300 of the commonly transported liquid cargoes including Creosote (coal tar) (amended )
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