China's big freeze turns heat up on bulker market
Cold snap in northern China has increased demand for coal and led to port congestion, resulting in soaring freight rates for dry bulk carriers. Meanwhile, rains in Indonesia have tightened coal supply and fuelled further increases in prices
Lloyd’s List Intelligence data shows around 34 dry bulkers above 10,000 dwt have been waiting outside Qinhuangdao port and anchorages, which is one of the largest coal transportation hubs in China, since the beginning of the year