Coal Vessels Crowd Australia’s Newcastle Port

Platts reported that the Newcastle terminal in Australia is congested with boats waiting to load coal exports.

As quoted in the market news:

The coordinator has forecast that the number of vessels waiting in queue at the terminals will grow to 50 by next week, as traders and coal exporters in the Newcastle thermal coal market wrestle with the rising tide of cargo defaults by buyers in China.

Click here to read the full Platts report.