Page 229 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - SEPT 2025

and as natural gas prices increased in the
first quarter of 2025, coal became more
competitive: US coal consumption in the
first quarter of 2025 was 18% more than
in the first quarter of 2024.
In its short-term forecast, the EIA
expects coal’s share of US electricity
generation to increase from 16% in 2024
to 17% in 2025, before declining to 15%
in 2026. Overall, electricity generation
is increasing to meet growing electricity
demand, especially from the commer-
cial and industrial sectors. Similarly, the
EIA forecasts a 6% increase in US coal
consumption for 2025, followed by a
6% decrease in 2026 with planned coal
power plant retirements and increasing
renewable capacity coming online.

IRON ORE-STEEL

West Africa iron ore exports surge
even before Simandou commissioning
Western Africa (Mauritania, Sierra
Leone, and Liberia) exported a record
18 mt of iron ore in the first half of 2025,
up 34% from a year earlier, according to
Kpler’s data. The growth precedes the
anticipated November 2025 commis-
sioning of Guinea’s Simandou project
and reflects momentum from Arce-
lorMittal Liberia Phase II and Sierra
Leone’s Tonkolili operations.
With Simandou coming online in Novem-
ber, Kpler expects Western Africa iron
ore exports to increase by 30% y/y to
36 million tonnes in the whole of 2025
and reach an export capacity of around
200 million tonnes by 2030.

Decline in world crude steel production
World crude steel production for the 70
countries reporting to the World Steel
Association (worldsteel) was 151.4 mt in
June 2025, a 5.8% decrease compared
to June 2024.
Crude steel production by region
Africa produced 1.7 mt in June 2025,
up by 3.0% compared to June 2024.
Asia and Oceania produced 112.9 mt,
down by 6.2%. The EU-27 produced
10.4 mt, down by 8.2%, while Europe
(non-EU) produced 3.3 mt, down by
8.4%. The Middle East produced 4.3
mt, a decrease of 4.9%. North America
produced 8.7 mt, up by 1.2%. Russia
and the Commonwealth of Independent

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