An analyst at Noble Resources said global demand for seaborne thermal coal imports could decline 7 percent this year to 927m tonnes amid the Covid-19 pandemic and stiff competition from gas.
Of the total, demand from Atlantic-basin countries (northern Europe, Mediterranean countries and the Americas) could slump 13 percent to 148m tonnes. Continental and southern Europe’s coal demand was seen down 13m tonnes and 8m tonnes, respectively, to 27m tonnes and 9m tonnes.
Mediterranean demand (north Africa and Turkey) would remain largely flat at 55m tonnes. Asia-Pacific demand would drop 6 percent to 779m tonnes, led by an 11m-tonne decline for South Korea to 101m tonnes and a 10m-tonne reduction for India to 169m tonnes.
Chinese demand would be down 7m tonnes at 210m tonnes while India would limit import appetite. Indonesia as the world’s largest coal exporter could see a 6 percent decline to 424m tonnes. While Colombia sees a negligible 1m tonne drop to 74m tonne, Russia could keep seaborne supply flat at 137m tonnes.
