Dry Bulk Shipping: China’s Coal Imports Keep Declining¶
inDry Bulk Market,Hellenic Shipping News04/07/2026
Source: Banchero Costa
According to Banchero Costa, “seaborne coal imports into Mainland China declined by -14.0% y-o-y to 126.2 mln t in Jan-May 2026. Imports to India declined by -6.7% yo-y to 96.5 mln t, to Japan increased by +5.0% y-o-y to 64.8 mln t in JanMay 2026, to South Korea up by +22.0% y-o-y to 46.5 mln t. To the EU imports were broadly flat at -0.5% y-o-y to 26.2 mln t in JanMay 2026, whilst to Vietnam increased +4.4% y-o-y to 30.8 mln t. Imports to Malaysia declined by -3.9% y-o-y to 15.4 mln t, and to Bangladesh increased by +5.0% y-o-y to 7.5 mln t”.
“Mainland China is currently the world’s largest seaborne importer of coal (both thermal and coking), accounting for 24.0% of the global seaborne market in Jan-May 2026. It is ahead of India, which accounts for 18.4% of coal trade and Japan with a 12.3% market share. Total seaborne coal imports into China in the 12 months of 2025 reached 379.7 mln tonnes, according to AXS vessel tracking. This was down -12.7% y-o-y from the 435.1 mln t of 2024, which in turn was up +14.5% from the 379.9 mln t in 2023. In Jan–May 2026, imports into China declined by -14.0% y-o-y to 126.2 mln t, compared to 146.7 mln t in Jan-May 2025. In Jan-May 2026, most coal volumes into China were loaded on Panamax vessels (59.4%), with 20.0% on Supramax and Ultramax vessels, 7.4% on Post-Panamaxes and 10.1% on Capesize tonnage. Top discharge ports for coal imports into China in Jan-May 2026 were Machong (9.3 mln tonnes of coal), Qinzhou (7.4 mln t), Fangcheng (7.0 mln t), Gaolan (5.9 mln t), Meizhou (4.8 mln t), Guangzhou (4.5 mln t), Haimen (4.3 mln t), Shanghai (4.1 mln t), Caofeidian (3.8 mln t), Yuhuan (3.3 mln t), Chaozhou (3.1 mln t), Tangshan (3.1 mln t). Indonesia is still by far the top supplier of coal to China accounting for 56.2% of China’s imports in JanMay 2026. Arrivals from Indonesia to China declined by -4.2% y-o-y to 70.9 mln tonnes in Jan-May 2026 compared to 74.0 mln t in Jan-May 2025. Australia is the second largest supplier of coal into China with a share of 19.8% in Jan-May 2026”.
Source: Banchero Costa
“In Jan-May 2026, China imported 25.0 mln t of coal from Australia, down -17.1% y-o-y from 30.2 mln t in Jan-May 2025. The third largest supplier of coal to China is Russia, accounting for a 17.7% share of Chinese imports in Jan-May 2026. Coal shipments from Russia to China declined by -18.3% y-o-y to 22.3 mln t in Jan–May 2026, from 27.3 mln t in Jan-May 2025. Coal volumes from Canada to China declined by -38.1% y-o-y in Jan-May 2026 to 3.2 mln t. From the Philippines, volumes declined by -36.9% y-o-y in Jan-May 2026 to 2.4 mln t. From the USA they declined by -70.4% y-o-y to 0.7 mln tonnes in Jan-May 2026”, Banchero Costa concluded.Nikos Roussanoglou, Hellenic Shipping News Worldwide
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