“During the first half of 2025, global coal shipments fell 6% y/y amid weak import demand in large markets. Cargo loadings headed to China and advanced economies slowed considerably, partly due to stronger electricity generation from renewables and to weaker steel production,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.
In recent years, China has joined several of the world’s advanced economies in rapidly phasing out fossil fuels from its electricity generation, thus reducing import dependence. According to the International Energy Agency, China is currently the largest energy investor in the world, spending almost as much as the EU and the US combined. 71% of its spend is estimated to be on clean energy.
Factors other than domestic demand are also shaping developments in the global coal trade. China and India have been gradually boosting their domestic coal production, reducing import demand. Overland imports into China from Russia and Mongolia have been increasing, directly competing with seaborne imports.
Despite the negative developments for coal shipments, a 19% drop in prices provided some support for imports in price-sensitive
