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In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected electricity demand.
The BIMCO Liquid Cargo database is intended for use by for shore-side staff and to some extent for newcomers on board tankers and should only be used as a reference tool providing brief information regarding the more than 300 of the commonly transported liquid cargoes including Creosote (coal tar) (amended )
Despite the very strong freight rates and the apparently tight market, the all-important driver for dry bulk shipping, China, has in fact seen imports of its two largest dry bulk commodities shrink year-on-year so far this year. The two largest imported commodities for China, iron ore and coal are however, interestingly on two different trajectories, as the latter could be ending the year with higher total volumes than in 2020.
Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Imports of crude oil and coal have benefitted the shipping industry to the greatest extent as both volumes and distances have increased.
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+45 44 36 68 00Lines are open Mon-Thurs 08:30-17:00 (CET) Fri 08:30-16:00 (CET)