The Chinese government’s aim of suppressing coal and lignite imports in November and December 2018 is adversely affecting demand for Panamaxes and as a result, rates. Yet, according to Drewry, imports will be supported by winter and high-energy demand in the first quarter of 2019.
Namely, the Chinese government is allowing only limited imports in the fourth quarter of 2018, so that total coal imports in the year do not surpass those of 2017. Approximately 42 million tonnes of coal and lignite...
https://safety4sea.com/chinas-import-limitations-on-coal-decreases-demand-on-panamaxes/