Coal news and updates

China is considering accepting some stranded Australian coal cargoes, an effort that would help ease a logjam of vessels that have stacked up off its coast for months.

 

The shipments that could be cleared are those that arrived before a ban on Australian coal went into effect, said a person familiar with the situation, who asked not to be identified as the discussions are private.

 

Deliberations are at an initial stage and any decision would need the approval of more senior Chinese leaders, the person said. The broader prohibition on Australian coal remains in place, and ideally the cargoes would be resold to buyers in other countries, the person said.

 

China’s customs administration didn’t immediately respond to a fax seeking comment.

 

The opaque nature of the Australian ban, which has never been publicly acknowledged by Beijing, makes pinpointing its start date difficult. The government was rumored to have ordered its five biggest utilities to halt Australian purchases as early as May, while in October, power stations and steel mills were told to stop using Australian coal.

 

Source : https://www.bloomberg.com/news/articles