Via Bloomie, more China shooting itself in the foot:
A cargo of 135,000 tons of Australian thermal coal on the vessel Alpha Era, which has been waiting almost six months to unload at the southern Chinese port of Fangchenggang, is expected to clear customs and is bound for a local user, said the person, who asked not to be identified because the information is private.
Two other ships, the Dong-A Eos and the Dong-A Astrea, recently completed unloading Australian coal at the port of Jingtang, while a third vessel, the Dong-A Oknos, is in the process, according to data intelligence firm Kpler. It’s not clear if those cargoes will also be cleared by customs, and it remains uncertain whether the unloadings are exceptions to meet specific demand, or a sign of a broader unfreezing of Australian coal imports into China.
…“The speed of domestic coal price increases in China will to some extent decide how soon we could expect more Australia coal shipments to be discharged,” said Monica Zhu, a dry bulk analyst with Kpler.
Maybe it is only letting on pre-ban ships. Or, maybe it realises that it has shot itself in the foot with skyrocketing local prices and cratering seaborne.
