After three months of decline, global seaborne Steam Coal flows on the rise again. In March, quantities discharged worldwide exceeded 80m MT for a 2.3 YoY increase.
This also meant that Steam Coal voyages completed last month were 34% more than in February.
Most of the added Steam Coal in March came from Indonesia, nearly doubling its February exports, providing almost 39m MT, or approx. 47% of all cargo, worldwide. South African Steam Coal was discharged 6.3% more YoY in Mar, while Australia and Russia had their exports decrease by 11.4% and 17.4% YoY.
Indian seaborne Steam Coal imports surged in March, exceeding 16m MT for a 31.2% YoY increase, and almost surpassed China for the top spot in market share. While discharges at Chinese ports increased by over 53% MoM, they still regressed by 17.7% YoY.
The March resurgence of seaborne Steam Coal was carried almost universally across the larger vessel segments. Panamaxes transported over 6m MT more than they had in Feb, while Over Panamaxes and Capes saw an increase in utilization by 30.5% and 10.4% YoY, respectively.
Source: AXS Marine
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