South Asian demand keeps pushing coal flows higher in Dry Bulk Market , International Shipping News 12/06/2026 G lobal seaborne coal flows reached 119mt in May 2026, up 5% y/y — the first month of consecutive y/y growth in 2026 so far, and with an accelerating growth rate compared with April’s revised figure of 4%. Chinese seaborne coal imports fell by 6% y/y but did rise m/m to reach 30mt. Much of this rise is seasonal as higher temperatures in Southern Provinces caused greater power demand for cooling, prompting restocking at coastal utilities. Other Asian economies that rely on LNG from the Gulf for power generation have also continued to step up coal imports to replace the lost LNG volumes, with Japan seeing imports rise 11% y/y in May. Despite the rise globally, the largest exporter of seaborne coal, Indonesia, continues to export less than it did last year. Exports in May fell by 26% y/y, to 40mt. This is the fifth consecutive month Indonesia has seen coal exports decline y/y, and is aligned with the market view given the deliberate output cuts imposed by the government at the start of the year. China and Japan set to defy seasonal norms in June Looking ahead, June typically sees China import less coal than in May. However, current data from Signal Ocean is showing that coal imports will actually increase m/m — the first time June imports outpace May for several years. Domestic coal production has slowed into negative territory ytd, and with the country expanding coal gasification, it will require more imported coal as an input. The outlook for Japan is even more elevated, according to Signal Ocean figures. The country is currently on track to receive around 60% more coal in June 2026 than it did a year earlier. A combination of slower restarts of nuclear power facilities, more relaxed regulations around coal power utilizations, and the favourable price differential between coal and Asian LNG will likely continue to enable greater coal flows to Japan throughou