US thermal coal exports hit 5-year highs and top $5 bln in 2023: Maguire

LITTLETON (Colorado), Feb 2 (Reuters): United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-polluting power fuel, data from ship-tracking firm Kpler shows.
The thermal coal export earnings were the second-highest since 2017, following 2022's $5.7 billion. The total volumes were the highest since 2018 and came as U.S. power producers cut the amount of coal used in electricity generation to the lowest this century, data from energy think tank Ember shows.
The diverging trends between shrinking domestic coal use and robust coal exports open the United States to charges of hypocrisy given the country's ambitions to become a global leader in energy transition and pollution reduction efforts.
A key driver behind the push for overseas sales has been a steady decline in coal use for power generation at home.
Between 2013 and 2023, U.S. coal-fired power generation dropped by 57.5% from 1,581 terawatt hours (TWh) to 672.5 TWh, Ember data shows.
Over that time span, coal's share of the U.S. electricity generation mix declined from 39% to 19% as natural gas and renewable power gained share on U.S. electricity grids.
Pollution reduction efforts were a major impetus behind the reductions in coal use, and annual emissions of carbon dioxide from U.S. coal-fired power generation dropped by 57%, or 865 million metric tons, during the 2013 to 2023 window.
As some of the coal-fired power was replaced by natural gas, total power sector emissions fell by less than coal-fired emissions, but were still about 500 million tons lower in 2023 than in 2013, Ember data shows.
To make up for demand losses at home, coal miners and trading firms have stepped up sales of U.S. coal to international buyers, especially in Asia where coal remains the primary fuel source in power generation.
India was by far the largest destination for U.S. coal shipments in 2023, with the 11.8 million tons delivered there accounting for 36.3% of total U.S. thermal exports.
The volume shipped to India - the world's largest coal producer and consumer after China - was up 130% from 2022, according to Kpler.
India is expected to remain a keen buyer of international coal as the country's domestic reserves are being depleted and power firms rely on coal for about 75% of India's electricity.