Vietnam is the new coal exporter’s darling, as imports surged during the COVID-19 pandemic, increasing around 46% y-o-y. The country has imported circa 36-million tonnes so far this year, although Indonesia, Russia and China are the major suppliers. SA clearly has a major freight disadvantage and markets such as Africa, India and Pakistan are better suited. Demand elsewhere remains moribund whilst the only coal producing nation with any meaningful production shut-ins remains Colombia, aided by striking workers downing tools over pay disputes.
