AAustralian coal exports to China surge in 2024, helping maintain strong freight demand. In a recent report, shipbroker Banchero Costa said that “in January-December 2024, global coal loading by sea increased by +2.4% yo-y to 1,371.8 million t (excluding cabotage), based on ship tracking data from AXS Marine. This shows a slowdown in growth of +5.8% yoy in 2023. In January-December 2024, exports from Indonesia increased by +7.7% yoy to 532.9 million tonnes, while from Australia increased by +3.5% yoy to 356.1 million tonnes. Exports from Russia fell by -12.2% yoy to 162.1 million t in JanDec 2024, from the US increased by +4.6% yoy to 90.6 million t, from South Africa increased by +2.2% y-oy to 62.1 million t. Shipments from Colombia fell -0.8% yoy to 55.9 million t in JanDec 2024, from Canada fell -1.5% yoy to 49.2 million t, and from Mozambique by -10.5% toy to 21.3 million t”.
Source: Banchero Costa
According to Banchero Costa, “seaborne coal imports to Mainland China increased by +15.9% yoy to 427.1 million t in Jan-Dec 2024. Imports to India fell by -1.8% yo-y to 236.5 million t, to Japan decreased by -2.1 % yoy to 157.1 million t in JanDec 2024, to South Korea -6.2% y-oy to 110.2 million t. Imports to the EU fell by -27.2% yoy to 25.3 million tonnes in Jan-Dec 2024, while volumes to Vietnam increased by +19.1% yoy to 56.5 million tonnes. Australia is the second largest coal exporter in the world, with 26.0% of global seaborne coal exports in Jan-Dec 2024, far behind Indonesia which controlled 38.8% of coal exports in Jan-Dec 2024.”
“Coal shipments from Australia have been drastically impacted in 2021-2022 due to the country being placed on the reserve list by Mainland China, previously Australia’s largest customer. Despite this, Australian exporters were relatively successful in finding new markets that limited their impact on overall volumes, and the Chinese ban was effectively lifted from the start of 2023. In 2022, Australian coal exports fell sharply by -7.8% yoy to 329.1 million tonnes, from 356.9 million tonnes in 2021, based on AXS Marine data. In 2023, volumes from Australia increase again to 344.1 million tonnes, or +4.6% yoy. In 2024, shipments increase by +3.5% yoy to 356.1 million tons. The main coal export terminals in Australia are Newcastle (143.4 million tonnes loaded Jan-Dec 2024), Gladstone (67.0 million t), Dalrymple Bay (61.2 million t), Hay Point (38.5 million t ), Abbot Point (35.3 million t ), Port Kembla (6.4 million t), Brisbane (4.0 million t), Geraldton (0.1 million t). The majority (61%) of coal volumes shipped from Australia in Jan-Dec 2024 were loaded in Panamax or Post-Panamax tonnage, with 36% of volumes shipped in Capesize vessels, and 3% in Handy or Supra tonnage,” the shipbroker said. .
Source: Banchero Costa
Banchero Costa added that “there has been a remarkable reshuffling of trade patterns over the past few years, driven by political considerations. Coal exports from Australia to Mainland China jumped by +51.4% yo-y in January-December 2024, to 84.8 million tonnes, from 56.0 million tonnes in 2023. Recall that in 2022, due to the ban “Unofficial” China, Australia sends coal only 0.3 million tonnes of coal is sent to China. Mainland China now accounts for 23.8% of Australia’s coal exports. However, the main destination country remains Japan, with 105.3 million tonnes in JanDec 2024, up +2.3% yoy, accounting for 29.6% of Australia’s coal exports. In third place, with 11.3%, is India. In 2024, Australia exported 40.3 million tonnes of coal to India, down -18.5% yoy, from 49.4 million tonnes in 2023. This figure is a significant decrease from the peak of coal shipments from Australia to India of 70, 1 million tons in 2021. To Taiwan, the volume decreases. by -7.0% yoy in Jan-Dec 2024 to 26.8 million t. For the EU, volumes increased by +2.3% yoy to 18.1 million t. In Vietnam, volumes fell -14.2% yoy to 17.1 million t,” the shipbroker concluded.
Nikos Roussanoglou, Worldwide Hellenic Shipping News
