China Demand Buoys Coal Shipments 14%

Global coal shipments surged 14% y/y in June 2026, driven by a 41% spike in exports to China following a major mining accident in Shanxi that temporarily shut down 109 mines, while LNG transit disruptions in the Strait of Hormuz pushed Korea, Japan, and the EU to seek alternative coal supplies. The dry bulk (panamax) segment has seen significant freight rate increases, with ongoing uncertainty around Strait of Hormuz transit conditions shaping the outlook for global coal trade routes.