Coal cargoPart of the shortfall from the coal shortage in Australia earlier this year has been made up by supplies not only from other countries but by other fuel types. This put pressure all
along the supply chain and some unusual shipments were seen. In addition it meant that knock-on effects eventually impacted on fuels that were not directly related to the steel making industry. For example US exports of petcoke in the first quarter grew by some 16% as compared to 2010. But within that overall growth figure shipments to Japan (the largest overseas destination for US petcoke – Mexico being the largest overall) grew by over 45% as importers scrambled to seek alternative energy supplies.
In total exports from the US in Q1 reached 8.1 Mt making it by far the world’s largest exporter of petcoke and potentially set on course to see a new world record tonnage this year of 32-35 Million tonnes. Most affected will be ships in the Supramax/Panamax range providing a useful boost to demand. With the main regional market for US petcoke being Europe, which currently is taking one-third of total tonnage (some 8 Mt in 2010 and an annualized 11 Mt this year), Atlantic business could be supported further giving welcome support to owners.
along the supply chain and some unusual shipments were seen. In addition it meant that knock-on effects eventually impacted on fuels that were not directly related to the steel making industry. For example US exports of petcoke in the first quarter grew by some 16% as compared to 2010. But within that overall growth figure shipments to Japan (the largest overseas destination for US petcoke – Mexico being the largest overall) grew by over 45% as importers scrambled to seek alternative energy supplies.
In total exports from the US in Q1 reached 8.1 Mt making it by far the world’s largest exporter of petcoke and potentially set on course to see a new world record tonnage this year of 32-35 Million tonnes. Most affected will be ships in the Supramax/Panamax range providing a useful boost to demand. With the main regional market for US petcoke being Europe, which currently is taking one-third of total tonnage (some 8 Mt in 2010 and an annualized 11 Mt this year), Atlantic business could be supported further giving welcome support to owners.
Source: ICAP Shipping
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