【Strait of Hormuz LNG Vessel Incident May Indirectly Support Thermal Coal Prices Amid Supply Chain Risks】

Published: Aug 4, 2026 15:24

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Greek shipping company GasLog confirmed that its LNG carrier, GasLog Shanghai, experienced an incident while exiting the Strait of Hormuz on July 31, with the vessel remaining stable and all crew safe, though specific damage to the ship or cargo has not been disclosed. The tanker had previously loaded an LNG cargo at Qatar’s Ras Laffan terminal from July 27–28 before reappearing near Oman’s Musandam Peninsula on August 2. As the Strait of Hormuz handles nearly one-fifth of global LNG transport (including most exports from Qatar and the UAE), heightened geopolitical tensions following the US-Iran conflict have led to multiple vessel attacks and significantly increased transit risks. A prolonged disruption in this key maritime choke point could drive up freight rates, insurance premiums, and spot gas prices, prompting power generators in Europe and Asia to switch from gas to coal, thereby providing indirect support to global thermal coal demand and prices, while leaving coking coal largely unaffected.

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