![A bar chart in IFCHOR GALBRAITHS' brand colors illustrating "USA Coal Seaborne Exports: Main Destinations [Mt]" from 2021 to 2024. The chart, based on AIS data, shows the volume of USA coal exports to key countries including India, China, the Netherlands, Brazil, Morocco, Canada, Japan, Egypt, Türkiye, Indonesia, and an "Other" category. India and the "Other" category have the highest coal import volumes, while China’s imports fluctuate over the years. The y-axis represents millions of metric tons (Mt), ranging from 0 to 25, with each year color-coded: green (2021), yellow (2022), blue (2023), and light yellow (2024).](https://b3177889.smushcdn.com/3177889/wp-content/uploads/2025/02/20250205_Dry-Bulk_US-Coal-Seaborne-Exports-Main-Destinations_IMAGE_752-504.png?lossy=1&strip=1&webp=1)
More notably, it launched an anti-trust probe into Google and imposed export controls on tungsten and rare earths. The dry bulk market faces a limited impact as the ~11Mt of US coal exported to China in 2024 could be redirected to India, while China would turn to Australia or Russia. Accounting for distances, global dry-bulk ton-miles should not decline by more than 1%. Agricultural products remain untouched and suggest that negotiations are just beginning!
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