FAST FIVE: If Coal Is Dead, Then Why Are Ships So Full Of It?
According to Clarksons Platou Securities, Capesize spot rates averaged $32,800 per day on Monday, with Panamaxes at $31,800 and Supramaxes at $31,600.
It's rare in dry bulk shipping for all three segments to simultaneously top $30,000, as they have for the past five weeks.
Clearly, this is good news for dry bulk shipping moving into winter as coal is often stockpiled in advance and the motivation for such inventory building should be great given the risk of [natural] gas shortages.
So, the better-quality coal [from outside China] will benefit, and that will benefit the shipping market.
Inefficiencies are usually things that help shipping markets.