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More than 500 bulkers hit by severe coal terminal congestion in Asia - Report

Logistic News - Published on Mon, 08 Jan 2018

Image Source: splash247.com
Reuters reported that severe port congestion both to load and unload coal is affecting more than 500 dry bulk vessels. Bottlenecks at import terminals across China and delays at loading ports in Indonesia's rain swept Kalimantan island are pushing the price of coal up in recent weeks. Spot cargo prices for Australian Newcastle coal have risen nearly 15% from lows in late November after China loosened import restrictions to help meet a winter fuel shortage.

Shipping data from Thomson Reuters Eikon shows around 100 bulkers waiting to load coal off the coast of Kalimantan and another 400 to 500 waiting to offload their coal cargoes off China, mainly near Shanghai and Ningbo and the Bohai Bay area.

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Posted By : Nanda Koijam on Mon, 08 Jan 2018
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