BIMCO’s SNOW (Week 37): Chinese coal imports from Australia drop 98.6% as restrictions bite
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian coal have started to hurt, according to Oceanbolt. This represents a 98.6% drop compared with 56.8 million tonnes in the same period in 2020.
In the first seven months of 2020, 697 voyages were made carrying coal between Australia and China. Out of...
Crude oil prices touch 9-month highs, iron ore prices surge for delivery to China, and Asia’s methanol supply tightens further, reports Platts.
All eyes are on benchmark crude oil prices this week, after front-month ICE Brent futures rose to almost $50 per barrel last week for the first time since early March. This comes as advances in vaccines increase hopes of containing the pandemic.
Crude price revisionThe US Energy Information Administration has also revised up its forecast for crude prices...
https://mfame.guru/watch-crude-rates-record-9-months-high-amid-surging-metal-prices/
Supramax freight rates in Southeast Asia surged at least 25% in the trading week ended Nov. 27 as the unexpected news of China releasing an additional 20 million mt of coal import quotas rapidly drained tonnage from the region, reports Platts.
Supramax time chartersTime Charter...
https://mfame.guru/supramax-freight-rates-surge-amid-additional-coal-imports/