Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
HomeMaritime NewsRegionsAsiaRising China coal stockpiles seen hitting panamax rates hard

Rising China coal stockpiles seen hitting panamax rates hard

Rising China coal stockpiles seen hitting panamax rates hard
Beijing: Latest figures show an increasingly dim picture of the China coal market with the utilities companies reported to have 91 million metric tons in reserve while stockpiles at the largest ports are reported to be at more than 90% of capacity.

Electricity generation, one of the main drivers of coal use has seen tepid growth as industrial demand in China weakens amid the slowing economy. Electricity production rose 3.2% in May after gaining 1.5% the previous month, according to reports, the smallest gains since 2009.

All this is expected to dampen dry bulk market rates, with analysts predicting panamax rates will fall by about half to around $5,000 this quarter.

TAGS: dry bulk shipping China
Related
Qingdao port-qianwan.jpg
Qingdao port sees cargo and container volume growth in Q1
May 08, 2024
Hapag-Lloyd-Titan-and-STX-in-largest-ship-to-ship-bio-LNG-bunkering-operation.jpeg
IKEA chooses Hapag-Lloyd for greener shipping from Asia
May 08, 2024
New Dayang.jpg
New Dayang bags bulker pair from United Marine Egypt
May 07, 2024
Ashok Pillay HD copy.jpg
SeaLead seeks Asian market growth
May 07, 2024