October 20, 2026 - International coal shipments increased 3% during the first nine months of 2026, reversing a 4% decline in 2025, according to shipbroker Ifchor Galbraiths.

Disrupted liquefied natural gas deliveries through the Strait of Hormuz encouraged Asian utilities to purchase more coal. However, demand varied considerably across markets.

Between March and September, Asia’s seaborne thermal coal imports held near 550 million metric tons. Purchases fell 7% in China and 10% in India, while other Asian markets collectively increased imports approximately 10%. South Korea, Pakistan, Bangladesh, Japan and Vietnam helped offset those declines.

Steelmaking coal recorded stronger growth. Global seaborne metallurgical coal trade rose 10% during January–September, supported by Chinese demand. Australian exports increased 13%, with shipments to China nearly doubling.

Indonesia, which supplies roughly 47% of internationally shipped thermal coal, recorded a 7% export decline over the nine-month period. Third-quarter exports fell 16%.

The findings highlight an important distinction for exporters: weaker buying by China and India has not prevented overall trade growth. Expanding demand elsewhere in Asia and stronger steelmaking-coal shipments are reshaping trading opportunities.