South Africa: Shipments from key ports fall 10% m-o-m in Apr’26 amid weak demand, logistics constraints

• Richards Bay’s shipments fall on weak coal demand, slow loading activity
• Slower iron ore exports, soft Chinese demand pull down Saldanha’s volumes

South Africa’s port shipments declined 10% m-o-m to 14.54 million tonnes (mnt) in April 2026 against 13.09 mnt in March 2026, reflecting weaker bulk commodity demand, cautious buying interest from key Asian markets, and continued logistical inefficiencies across export corridors.

• Port Richards Bay: Shipments from Richards Bay dropped 6% m-o-m to 7.75 mnt in April 2026 from 8.24 mnt in March, mainly due to slower loading activity and cautious thermal coal procurement by Asian buyers. Despite the decline, sentiment at Richards Bay remained relatively steady, supported by improving rail performance, stable long-haul coal trade flows. However, freight volatility and competition from alternative coal-exporting origins continued to limit fresh fixture activity.
• Port Saldanha: Shipments from South Africa’s Port of Saldanha decreased by 15% m-o-m to 5.35 mnt in April 2026 from 6.3 mnt in March, amid slower iron ore export bookings and softer Chinese demand. Market sentiment at Saldanha remained cautious, with chartering activity moderating due to weaker Capesize earnings, limited spot cargo enquiries, and persistent rail/logistics constraints on the Sishen-Saldanha corridor.

Outlook

The near-term outlook for South Africa’s bulk export shipments remains cautiously mixed, with volumes from Port of Saldanha and Richards Bay expected to remain stable m-o-m amid volatile freight markets, logistical constraints, and cautious Asian demand. While improving rail performance may support coal exports, softer Chinese steel demand could continue to pressure iron ore shipments.