Global coal shipments rise 8% w-o-w to nearly 4-month high

• Indonesia, US, Canada lead broad-based gains in global coal exports
• Colombia emerges as only major exporter to record drop in shipments

Global seaborne coal exports rose 7.6% w-o-w to 19.85 million tonnes (mnt) in Week 39 (19-25 September 2026), reaching a nearly four-month high and extending gains for the third consecutive week. The increase was driven by stronger shipments across key exporting regions, particularly the Pacific, while Australian flows remained broadly stable.

Overall export activity strengthened across major markets, with higher shipments from Indonesia, the US, Canada and South Africa supporting global volumes. Atlantic flows were mixed, with Colombian exports facing logistical disruptions following damage to the Cerrejon railway network.

Country-wise exports

Port-wise exports

Australia, Indonesia lead Pacific coal flows

• Australia shipped 7.44 mnt, with Newcastle contributing 2.59 mnt, followed by DBCT at 1.60 mnt, Gladstone at 1.28 mnt and Abbot Point at 1.04 mnt. China (2.43 mnt) and Japan (2.03 mnt) were the key destinations, while BHP (0.71 mnt) and Glencore (0.65 mnt) led shipper activity.
• Indonesia shipped 7.37 mnt, with Bunati contributing 1.16 mnt, followed by Samarinda at 1.15 mnt and Taboneo at 1.10 mnt. India (1.90 mnt), China (1.69 mnt) and the Philippines (0.69 mnt) were the leading destinations, while Kaltim Prima Coal (1.06 mnt) and Jhonlin Group (0.72 mnt) led shipper activity.
• Canada shipped 0.76 mnt, with Roberts Bank contributing 0.34 mnt, followed by Vancouver at 0.24 mnt and Prince Rupert at 0.18 mnt. South Korea (0.36 mnt), Japan (0.22 mnt) and China (0.18 mnt) were the key destinations, while Elk Valley Resources accounted for 0.24 mnt of reported shipper volume.

US, Colombia maintain Atlantic flows

• Colombia shipped 1.31 mnt, with Puerto Nuevo contributing 0.81 mnt, followed by Puerto Bolivar at 0.35 mnt and Barranquilla at 0.13 mnt. The Netherlands (0.49 mnt) was the key reported destination, while Prodeco Group (0.78 mnt), Cerrejon Mines (0.35 mnt) and Cesar Coal (0.13 mnt) led shipper activity.
• South African shipments stood at 1.18 mnt, all through Richards Bay. India (0.45 mnt) was the key reported destination, followed by the Netherlands and Japan at 0.08 mnt each.
• US exports stood at 1.79 mnt, with Norfolk contributing 0.71 mnt, followed by New Orleans and Baltimore at 0.37 mnt each, and Mobile at 0.34 mnt. The Netherlands (0.39 mnt) and Brazil (0.17 mnt) were the key reported destinations.

Panamax freights strengthen, Supramax rates stay elevated

India-bound coal freight markets increased in the week, with Panamax climbing higher while Supramax remained at elevated levels despite limited physical activity. Higher fixtures earlier in the week helped lift owner rate ideas, although fresh Australian enquiry remained thin.

The Australia-India Panamax market strengthened on higher fixtures, while limited fresh cargo activity kept overall fixing subdued. Indonesia-India Supramax sentiment remained constructive despite relatively dull coal activity, with higher freight levels and rising bunker costs providing support. South Africa-India activity remained muted, although firmer levels and Atlantic vessel positioning continued to underpin owner ideas.

Outlook

Global coal exports are likely to remain supported in the coming week, with Indonesia and Australia continuing to drive Pacific flows, while US and Canadian shipments could remain active. Colombian exports will remain a watchpoint following the Cerrejon rail disruption, while South African flows will depend on rail and terminal availability.

In freight, Panamax sentiment is expected to remain supported, although limited fresh Australian enquiries could keep fixing activity subdued. Supramax is likely to remain elevated but selective, with Indonesian cargo activity and vessel positioning key to the next move. Higher bunker costs are also likely to keep pressure on owners’ rate ideas.