China last month, in a partial easing of the import ban,
granted permission to just four central-government owned firms
to bring in Australian coal. Tiger East, a dry bulk vessel loading some 73,300 tonnes of
Australian thermal coal from Queensland, is discharging at the
southern Chinese city of Taishan, according to Refinitiv and
Kpler data.
The coal could be sent to Guoneng Taishan utility, owned by
China Energy Investment Corp, shiptracking data showed.
The second vessel, Magic Eclipse, carrying metallurgical
coal that is reported to be for supply to Baowu Group, arrived
at anchorage in Zhanjiang port on Wednesday night and is
awaiting unloading. Traders expect the two cargoes to pass Chinese customs
smoothly given that the buyers, CEIC and Baowu, have received a
green light from the government.
"In theory, there is no problem for these two cargoes. The
issue is with other buyers who have not been granted
permission," said a China-based coal trader who declined to be
identified as he is not authorised to talk to media.
Coal importers can discharge their cargoes at ports first
and then apply for customs clearance.
But a growing coal inventory at Chinese ports, especially
those in the north, is leaving limited space for new supplies,
meaning buyers face a growing risk of demurrage if the customs
process is drawn out.
Coal stocks at major ports in northern China reached 34.65
million tonnes this week, the highest level in six months, data
from the China Coal Transportation and Distribution Association
showed.
There are at least seven Australian coal carriers heading to
China and due to arrive in coming weeks, according to
shiptracking data.
(Reporting by Muyu Xu; Editing by Robert Birsel)
