In the Oslo-quoted owner’s latest earnings report Pankaj Khanna argued that the return of freight rate volatility suggests the balance between supply and demand is starting to improve.
The industry veteran believes a decline in Chinese coal imports are, in part, responsible for postponing a rebound that many had expected to materialise in the second-half of 2014.
"The market recovery has been delayed due to the 7% decline seen in Chinese coal imports (January through September 2014 versus prior period) precipitated by a 24% surge in hydro‐electric production in the same period,” he said.
“However,
