Global seaborne coal trade returned to growth in 2026 after a year of decline, research from global shipbroker IFCHOR GALBRAITHS (IG) shows, a development reported on 20 October 2026.
IG’s analysis finds that seaborne coal exports rose by 3 per cent year on year in January–September 2026, reversing a 4 per cent contraction recorded across 2025. The research links the turnaround to disruption in liquefied natural gas supplies and changing patterns of demand across Asia, which have altered established international coal flows.
The broker’s report places the 2026 rebound in the context of broader energy-market stress in Asia, where tighter natural gas availability has increased reliance on alternative fuels. That shift has supported additional seaborne movements and helped to restore volumes that fell back last year, according to the published summary.
Drivers of the rebound
IG identifies two principal drivers for the recovery: interruptions to LNG supply chains and shifting Asian consumption patterns. These factors have prompted utilities and buyers in parts of the region to increase coal procurement, a change reflected in the year to September 2026 export figures.
The research does not, in the material supplied for this summary, specify aggregate tonnages beyond the percentage movements for the January–September period, nor does it set out detailed route or cargo-class breakdowns in the items quoted by reports. Those seeking deeper granularity will need to consult the full IG report.
Implications for maritime trade
A return to growth in seaborne coal trade has direct implications for voyage planning, chartering demand and vessel utilisation across the dry bulk complex, the report implies, as volumes that contracted in 2025 re-enter international markets. IG’s findings underline how energy-sector shocks can quickly redirect commodity flows and test existing shipping capacity allocations.
The published summary also frames the rebound as part of a regional rebalancing rather than a uniform global surge. Shifts in Asian demand patterns have been central to the change, meaning the impact on seaborne trade is concentrated where nations face the most acute gas supply disruptions.
Market participants and observers will watch whether the upward trend reported for January–September 2026 persists through the remainder of the year and into 2027. The short-term recovery documented by IG follows a clear contraction in 2025, and the evolution of LNG markets and regional energy policies will be key determinants of future coal trade volumes.
Sources published the item on 20 October 2026, summarising IG’s research on the subject. The research note provides a concise snapshot of how recent energy-market disturbances have influenced commodity shipping patterns, and it highlights the sensitivity of global seaborne coal flows to developments in Asian energy supplies and demand.
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