Bloomie has got some new indexes for shipping that are showing a rather mixed picture for the Chinese economy:
On the on hand, we see a pretty healthy bounce in containerized traffic (red). At the same time, however, China’s Coastal Bulk Freight Index(white) is flat following the big fall last year. The orange line is China’s Coastal Coal Bulk Freight Index, which gives you some idea of why thermal coal has been sliding without cease.
So, decent containerized traffic and lousy bulk commodity traffic, especially in coal. Together you might call that some kind of rebalancing. Hope it doesn’t persist!
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
Latest posts by Houses and Holes (see all)
- Scummo union integrity bill really about crushing wages - November 20, 2019
- NSW launches economic blueprint to nowhere - November 20, 2019
- China to declare trade war on Europe and vice versa - November 20, 2019