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China’s Caofeidian Port Halts Custom Declarations for Seaborne Coal

Coal News - Published on Fri, 19 Jul 2019

Image Source: SteelGuru
Sources at three major Chinese steelmakers confirmed with S&P Global Platts that Caofeidian port in northern China has halted custom declarations for all coal imports effective July 16, which is being interpreted by the market as a signal of a further tightening of import curbs. They had received verbal notice from Caofeidian port-related authorities that restrictions were being imposed.

The sources said a meeting was held at midday Monday about the restrictions and that verbal notice was also circulated in the market Monday evening. A Caofeidian port agent also confirmed this with Platts, without providing further comment.

A Chinese trader said that “It looks like the Caofeidian port restrictions are targeting both thermal and metallurgical coals from all origins.”

Market sources said that the measure was imposed after the total volume of coal imported over the first half of 2019 was deemed by authorities to be greater than desired. China imported 27.1 million metric tonne of coal over January-June, including thermal and metallurgical coals, up 5.8% YoY, latest customs data showed. Caofeidian port is primarily a domestic coal hub located in northern Hebei province.

Although, no official announcement has been made, market players said the restriction was targeted at trading companies, while end-users were still allowed to process custom declarations.

Source :

Posted By : Sanju Moirangthem on Fri, 19 Jul 2019
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