China has started unloading imported Australian coal that were left stashed outside Chinese ports for a year since Beijing blocked trades with Canberra.
Traders report that some stranded cargoes of Australian thermal coal have been discharged to China last month — energy think tank Keplr said five cargoes have discharged 383,000 tons of coal, while Braemar ACM Shipbroking reported 450,000 tons of coal received into China.
Beijing lost its second largest source of coal after it informally blocked Australian imports last year over political tensions regarding Canberra’s probe on the spread of COVID-19 from Wuhan City, and tons of Australian coal were stranded offshore.
With a power crisis triggering widespread blackouts, analysts said that China’s trade dispute with major exporter Australia is in the way of recovery.
China’s power crunches were caused by several factors including the Australian trade dispute, unusually cold winters, surging demand for coal, and a national decarbonization push by President Xi Jinping.
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