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COAL-OREVOY is a standard coal and ore voyage charter party. It is accompanied by its own bill of lading, COAL-OREVOYBILL 2016 . The latest edition of this contract is COAL-OREVOY, issued in 2003. Copyright in COAL-OREVOY is held by BIMCO.
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 million tons by sea, but in 2012 that number had increased to 106.7 million tons.
On 9 August, the Indonesian Energy and Mineral Resources Minister announced that 71 coal miners failed to meet their domestic market obligations, and that 48 of them are now banned from exporting coal. The ban comes into force just as the EU ban on Russian coal takes full effect and demand for non-Russian coal increases.
During the first nine months of 2023, coal shipments to the world’s second largest importer of seaborne coal, India, fell 9% y/y. A 12% y/y rise in domestic coal mining replaced imports and electricity production continued to rise despite lower production from hydro power.
Since Q1 2013, the significance of US coal exports has seen a considerable setback, with 2016 achieving the same levels as 2009. This is due to the long-haul routes carrying coking coal from the US East Coast and US Gulf Coast to East Asia not operating to the same extent and the EU is demanding less thermal coal.
Weak economic activity, a 10.5% increase in domestic coal mining, and a recovery in coal imports from Mongolia via rail alleviated coal shipments to China in 2022.
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