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Chinese coal shortage endures and boosts earnings in dry bulk market

Coal is in high demand in China, and by all appearances, the appetite for coal will not abate in the coming months, benefiting dry bulk operators. Norden and Lauritzen note how the Chinese coal policy – in addition to its import ban from Australia – serves to strengthen an already strong market. Clarified.

"It has been going on for a long time, and that entails increased tonne/mile," says Niels Josefsen, CEO of Lauritzen Bulkers. | Photo: PR/J. Lauritzen

China's protracted ban on coal imports from Australia has sent rates on the bunker market to soaring heights.

Instead, China is buying coal from the US, Canada, South America and South Africa, and the longer transport is taking up more ship capacity, leading to climbing freight rates in dry bulk. And it appears that the pattern will persist.

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