Increased thermal coal demand triggers demand for bulkers

Chamber of Shipping > Blog > News > International > Increased thermal coal demand triggers demand for bulkers

The global dry bulk market has experienced a boost from increased seaborne coal demand, with Indonesia emerging as a major exporter. Indonesian exports of thermal coal for the first ten months of 2023 grew by nearly 12% compared to the same period in 2022, exceeding 413 million metric tons. Indonesia accounted for over 50% of global thermal coal exports during this period, surpassing Australia and Russia. China was the largest customer of Indonesian coal, receiving about 44% of the total exports. The Panamax South China, Indonesia round voyage rates increased significantly, indicating strong freight rates in the dry bulk market until the end of the year.

Related Posts