Return of Australian Coal Exports Key to Freight Recovery

Platts reported that freight rates could recover as export volumes of coking coal from eastern Australia recover.

The market news is quoted as saying:

Speaking at the company’s fourth-quarter earnings call, Robert Buchanan, president of Genco, said the disruptions caused by the severe flooding in Queensland in December and January and weather-related delays to iron ore shipments from Brazil and South Africa, accounted for approximately 5% of global coal and iron ore seaborne trade, quoting estimates from commodities and ship broking group ICAP.

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