A diplomatic dispute between China and Australia has led to more than 50 dry bulk vessels being stranded off Chinese ports for weeks, writes Bloomberg.
The vessels have waited for at least a month to deliver Australian coal to China. In total, nearly 5.7 million tonnes of coal for a total value of more than USD 500 million are supposedly on board the stranded capesize and panamax vessels, which also carry an estimated 1,000 crew members.
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