China has started unloading a small number of Australian coal shipments despite an unofficial import ban, analysts said, in a move underscoring the intensity of the power crunch facing the world’s second-largest economy.
Nick Ristic, lead dry cargo analyst at Braemar ACM Shipbroking, said a handful of Australian cargoes waiting outside Chinese ports since a ban came into force a year ago had headed into berth last month and draft change had been observed, indicating that the coal had been unloaded. He said 450,000 tonnes of coal had been discharged.
Energy research company Kpler also said a total of five vessels waiting offshore had discharged 383,000 tonnes of Australian thermal coal into China last month.
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