S&p global platts, Energy company

China's ban on Australian thermal and coking coal imports is likely to remain in place indefinitely amid deteriorating relations between the two nations, The South China Morning Post reported citing analysts.China had communicated the ban verbally, which has left several Australian vessels stranded at Chinese ports.Commodities analysts believe that the informal approach was politically motivated though it also aligned with tightening coal import quotas and Beijing's goal to reduce consumption and carbon emissions.Coal import quotas at some Chinese ports have now been exhausted for 2020."There are several vessels carrying Australian coal waiting at Chinese ports for more than a month now as generally custom clearances have been very slow," said Deepak Kannan, a thermal coal analyst S&P Global Platts."Indications from sources are that the number of vessels waiting at Chinese ports has increased quite a bit of late. Some reports have suggested that as much as 7 million tonnes of coal are on board vessels waiting along the Chinese coast, up from the usual 4 to 5 million tonnes normally seen during this period of time along the coast."Chinese state-owned utilities including Huaneng Power International, Datang International Power Generation Company, Huadian Power International and Zhejiang Electric Power were notified of the import suspension, S&P Global Platts said. One of the utilities cancelled an order for high-ash 5,500 kcal/kg NAR Australian coal.The ban comes at the time when Chinese and Australian relations have deteriorated after Canberra called in April for an investigation into the origins of the coronavirus without first consulting Beijing.Beijing has since imposed a large anti-dumping duty on Australian barley, banned beef exports from five abattoirs and instigated anti-dumping and subsidy investigations into cheap Australian wine in China.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

S&p Global PlattsFOLLOW

S&p global platts, Latest News

Aurangabad :One member of gang duping RL Steels of Rs 36 lakh arrested

Aurangabad, Dec 3: The city cyber police arrested a member of a gang, which duped the famous R L ... ...

Business :Asia's travel optimism boosts jet fuel demand: S&P Global Platts

Demand for jet fuel in Asia is likely to be on the path to recovery with some countries opting to reopen even as the spread of delta variant of coronavirus lingers, middle distillate sources told S&P Global Platts. ...

Business :S&P Global Platts launches carbon-neutral LNG assessment

S&P Global Platts has launched the world's first daily carbon-neutral LNG (CNL) price assessment which tracks the cost of carbon credits purchased and retired to offset carbon emissions for an LNG cargo on the world's most active trade route. ...

Business :Platts Analytics forecasts global oil supply growth of 3 million b/d

Platts Analytics has forecast global oil supply growth of 3 million barrels per day this year and 5.5 million b/d in 2022. ...

International :Chinese ban on Australian thermal, coking coal imports likely to remain indefinitely: Report

China's ban on Australian thermal and coking coal imports is likely to remain in place indefinitely amid deteriorating relations between the two nations, The South China Morning Post reported citing analysts. ...