Russia Drops Out of World's Top Three Thermal Coal Exporters
Over the first nine months of 2026, Russia fell from third to fourth place among global thermal coal suppliers, exporting 42.5 million tonnes. South Africa took over third place.
Russia slipped from third to fourth place among the world's thermal coal exporters in January–September 2026, according to data from analytics firm BigMint cited by the outlet The Insider. Exports fell 18.6% to 42.5 million tonnes, the steepest decline among the leading suppliers. The result matters because it shows mounting pressure on one of Russia's export industries.
The wider market
In absolute terms, Russian shipments dropped by almost 9.7 million tonnes compared with the same period of 2025. Global trade volume fell by 3.2%, or roughly 19.9 million tonnes, to 602.5 million tonnes. Russia's decline accounts for about 49% of that contraction, and its share of the market slid from 8.4% to 7.1%.
South Africa overtook Russia for third place, raising exports by 8% to 52.1 million tonnes. Indonesia remains the leader with 240.3 million tonnes (−10%), and Australia keeps second place with 151.2 million tonnes (+2%). Mongolia posted the biggest growth, up 73% to 24 million tonnes.
Losses in key markets
Russia lost the most ground in Turkey and China. Shipments to Turkey fell 32% (to 15.7 million tonnes) and to China by 26% (to 15.1 million tonnes). India was the only growth destination: thanks to substantial discounts, deliveries rose 63% to 9.6 million tonnes, exceeding the volume for all of 2025.
The drop in demand is linked to coal surpluses in Chinese warehouses, lower consumption at Turkish power plants and competition from Mongolia. Rising costs for rail transport, freight and ship insurance add further pressure on Russian exporters.
BigMint's statistics do not cover all Russian coal exports. According to Kpler, seaborne shipments of Russian coal of all grades over the same period rose by 7.25% to 135.86 million tonnes. The Insider says the gap stems from differences in counting methods and the product categories included.
Financial crisis in the industry
According to Rosstat, Russia's statistics agency, the net loss of coal mining companies reached 178.2 billion rubles in January–July 2026, with 64.5% of firms unprofitable. In Kuzbass, Russia's largest coal-mining region, 20 of 93 mines and open-pit sites were idle as of August. The industry's workforce fell over the year from 103,000 to 97,300. Russia's Energy Ministry estimates the sector's losses in 2026 will reach 300–310 billion rubles.
