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China has seen its market share of seaborne coal imports fall sharply over the past two years, down from 93% between 2015-2022 to 76% in 2023-2024, amid a shift towards land-borne alternatives, according to maritime commerce platform provider Veson Nautical.produced using Veson’s commodity market intelligence solution Oceanbolt shows that China’s seaborne imports only increased by 45% in 2023. Meanwhile, its coal exports soared 62% to 473.4 million tonnes for the year.
Nordberg adds that China imported just 2.8 million tonnes of Australian coking coal, a staggering 91% decline from pre-ban levels.The report cites Russia as a growing supplier of coal to China. Russia’s share of Chinese coal imports grew from 11% in 2019 to 22% in 2023. This shift could be linked with the war in Ukraine and the subsequent sanctions imposed on Russia by Western nations, it adds.
Around 90% of Mongolia’s coal production is destined for export to China due to limited domestic demand. According to the Mongolian Coal Association, the country has the potential to produce up to 100 million tonnes annually.
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