On November 27, 2024, approximately 100 nautical miles off the coast of Virginia, a bulk carrier shipping a type of coal called “Bailey High Vol Coking Coal” experienced consecutive explosions in the two forward cargo holds. While still under investigation, the explosions are likely a result of the accumulation of methane gas that created an explosive atmosphere and resulted in significant damage to the two associated cargo holds…
“We estimate that coal shipments to advanced economies will fall 2% y/y in 2025, reaching a 23-year low. This will be the third consecutive annual drop although the pace of decline has slowed compared to previous years. The contraction is primarily…
“Despite China’s strategy of pursuing increased domestic coal production, which has meant that year-to-date production stands 5.8% higher than last year, its seaborne imports of coal have nevertheless surged 73% y/y so far,” said Niels Rasmussen…
On March 9, the coal carrier Kagura for the Chugoku Electric Power Co., Inc. (EnerGia) was delivered at Oshima Shipbuilding Co. Ltd. A naming and delivery ceremony took place on the same day and was attended by Shigeru Ashitani, representative director…
