US thermal coal exports rose from year-earlier levels for a third consecutive month in November, keeping 2023 shipments on track for a five-year high.

A total of 4.04mn short tons (3.67mn metric tonnes) of steam coal was shipped from US ports to customers in other countries during the month, up from 3.33mn st in November 2022. Both bituminous and sub-bituminous coal exports were higher than they had been a year earlier.

So far in 2023, US thermal coal shipments rose nine out of 11 months despite more challenging market fundamentals most of this year. They totaled 44.2mn st for January-November, the most since the first 11 months of 2018.

November’s increase coincided with inventory building in some countries, easing barge restrictions on inland US rivers and improved western rail service.

Thermal coal exports out of the New Orleans, Louisiana, Census district – the primary exit point for 6,000 kcal/kg typical 3pc sulfur US coal – rose to 1.07mn st from 800,895st as increased volumes to Egypt, Morocco and India offset declines in movements to Europe. The exports to Morocco were likely lower sulfur coal or typical 3pc sulfur coal mixed with lower-sulfur coal.

US thermal coal shipments through Baltimore, Maryland – the primary exit point for Northern Appalachian coal – also rose, as did volumes through the Seattle, Washington and San Francisco, California, districts, which are exit points for western US coal.

Shipments to most continents rose. Thermal coal exports to Asia climbed to 2.31mn st from 1.38mn st. This included exports to India more than doubling to 1.33mn from 648,365st. Thermal coal shipments to South Korea also jumped, to 415,095st from 268,046st, as did shipments to Thailand, Malaysia and parts of the Middle East. Those gains offset declines in US steam coal exports to Japan.

US thermal coal exports to Africa and South America also increased.

But US steam coal shipments to Europe extended their declines as coal-fired generation in key countries remained restrained and stockpiles were still elevated. US exports to Europe dropped to 662,117st — the lowest since July 2023 — from 1.49mn st a year earlier. Volumes to the Netherlands declined to 582,529st from 664,240st a year earlier.

US metallurgical coal exports to Europe also decreased, but they rose to Asia and South America. That brought US coking coal exports up to 4.21mn st in November 2023 from 3.96mn st a year earlier and boosted overall US coal shipments to 8.25mn st from 7.29mn st.

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