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COAL-OREVOY is a standard coal and ore voyage charter party. It is accompanied by its own bill of lading, COAL-OREVOYBILL 2016 . The latest edition of this contract is COAL-OREVOY, issued in 2003. Copyright in COAL-OREVOY is held by BIMCO.
Since Q1 2013, the significance of US coal exports has seen a considerable setback, with 2016 achieving the same levels as 2009. This is due to the long-haul routes carrying coking coal from the US East Coast and US Gulf Coast to East Asia not operating to the same extent and the EU is demanding less thermal coal.
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 million tons by sea, but in 2012 that number had increased to 106.7 million tons.
On 9 August, the Indonesian Energy and Mineral Resources Minister announced that 71 coal miners failed to meet their domestic market obligations, and that 48 of them are now banned from exporting coal. The ban comes into force just as the EU ban on Russian coal takes full effect and demand for non-Russian coal increases.
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volumes in 2016. This comes as a result of the UK starting a concerning trend for the dry bulk shipping industry, by close to doubling its Carbon Price Floor (CPF).
US seaborne coal exports are up 57% in total volume and 61% in terms of tonne-miles for the first five months of 2017 compared to the same period last year. If US coal exports remain high throughout 2017 it will have a solid effect on the global seaborne coal trade and support the overall improvement in the dry bulk shipping industry.
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+45 44 36 68 00Lines are open Mon-Thurs 08:30-17:00 (CET) Fri 08:30-16:00 (CET)