Bloomberg quoted Arctic Securities ASA said rising power station coal prices in China may bolster imports of the fuel from Australia causing shipping costs to strengthen.
Data from China Coal Transport and Distribution Association show that coal with an energy value of 5,500 kilocalories a kilogram at Qinhuangdao port gained 0.6% to between CNY 840 and CNY 855 per tonne over the past week. That’s the highest since October 2008.
Mr Erik Nikolai Stavseth Oslo based Arctic analyst said the export price for the fuel in Newcastle, Australia is USD 12 a ton cheaper. That may be conducive to imports and have a positive impact on demand for Capesize ships that also transport iron ore.
According to the Baltic Exchange Ltd in London the Baltic Dry Index a measure of commodity shipping costs has declined 20% this year to 1,423 points. (By Bloomberg)
Data from China Coal Transport and Distribution Association show that coal with an energy value of 5,500 kilocalories a kilogram at Qinhuangdao port gained 0.6% to between CNY 840 and CNY 855 per tonne over the past week. That’s the highest since October 2008.
Mr Erik Nikolai Stavseth Oslo based Arctic analyst said the export price for the fuel in Newcastle, Australia is USD 12 a ton cheaper. That may be conducive to imports and have a positive impact on demand for Capesize ships that also transport iron ore.
According to the Baltic Exchange Ltd in London the Baltic Dry Index a measure of commodity shipping costs has declined 20% this year to 1,423 points. (By Bloomberg)
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