Global coal demand surges as countries seek to avoid Strait of Hormuz shipping risks
Source Summary
Countries are increasing coal consumption to reduce dependence on energy shipments through the Strait of Hormuz amid regional tensions. The International Energy Agency forecasts global coal demand will rise 1.2% in 2024 to a record 8.94 billion tonnes. This shift reflects concerns about potential shipping disruptions in a critical energy transit route.
Why it matters
Coal demand at record levels indicates countries are restructuring energy sourcing to mitigate geopolitical risks to critical shipping routes.
