Middle East conflict drives coal shipments surge

According to Golden Ten Data on May 11, in recent months, due to ongoing conflicts in the Middle East causing disruptions to oil and natural gas supplies, countries have been seeking alternative fuels, leading to a surge in coal shipments. Typically, as the heating season in the Northern Hemisphere draws to a close, coal transportation volumes in April and May tend to slow down; however, according to data from the pricing agency Argus, in recent months, coal has become the largest cargo category for medium-sized vessels, and the average freight rate in May has soared by as much as 50% compared to February. According to the analytics platform Kpler, global coal imports in May are expected to exceed 464,000 tons, marking the third-highest monthly import level on record.