Reports that China is considering lifting its embargo on the imports of Australian coal could end up being negative for the bulker market, Clarksons Platou Securities has said.
According to Bloomberg, China is looking to end the ban, which was put in place in December 2020, over fears about supply shortages.
“Historically, most Australian coal exports to China have been on capesizes,” analysts Frode Morkedal and Even Kolsgaard said.
