Strait of Hormuz Closure Triggers Coal Shipment Boom
In April, coal shipments to Japan, South Korea, and the EU rose by 27% year-on-year, fueled by tight gas supplies and LNG disruptions. Despite typical seasonal declines, a 1% month-on-month increase occurred. BIMCO warns ongoing Strait of Hormuz disruptions may further boost coal demand as utilities shift from gas to coal.