China’s coal ban may add to pressure on panamax rates
Several major ports in eastern and southern China, including Xiamen, Fangcheng and Zhoushan, have imposed restrictions on coal imports as Beijing tries to lift domestic coal prices. The moves are casting a shadow over panamax dry bulker rates, although the imminent impact can be limited
Panamax rates might be under strain over the next a few weeks, but could rebound with port congestion and foreign coal prices bottoming
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