The seaborne coal trade has faced a noticeable decline in 2025, following a strong performance in previous years. According to Banchero Costa, Indonesia remained the world’s largest seaborne coal exporter in 2024, responsible for 38.8% of the global market. After a period of reduced export volumes during the COVID-19 pandemic and government policies favoring domestic consumption, Indonesia’s coal exports rebounded sharply, reaching a record high in 2022 and continuing to rise in 2023.
The total seaborne coal exports from Indonesia in 2023 amounted to 494.6 million tonnes, a 10.2% increase year-on-year. In 2024, these exports further increased by 7.7%, totaling 532.9 million tonnes. Most of the coal exported from Indonesia originates from East Kalimantan and South Kalimantan, with some shipments also coming from southern Sumatra.
Key export terminals in Indonesia include Taboneo/Banjarmasin, Tanjung Bara, and Muara Berau. In 2024, over half of Indonesia’s coal volumes were transported on Panamax vessels, while the remaining shipments were distributed among Supramax, Post-Panamax, and Capesize vessels. China continues to be the leading importer of Indonesian coal, accounting for 44.0% of exports in 2024.
Remarkably, shipments to China increased by 14.2% that year, reaching 234.4 million tonnes. However, a significant decline of 20.1% year-on-year was observed in the first four months of 2025, with 54.4 million tonnes exported. Other significant importers include India, the Philippines, Japan, South Korea, Malaysia, and Vietnam, reflecting mixed trends in year-on-year export changes.
Despite robust export statistics previously, 2025 has indicated a retreat in the seaborne coal market.