Capes are beginning to snarl up across Chinese anchorages again. Braemar ACM is reporting capesize queues have begun to rise, hitting 10.3m dwt this week. This marks a 32% increase since mid-October and is 55% higher than the five-year historical average for the time of year.
“China is now host to the top three anchorages globally in terms of total dry bulk congestion, with Bayuquan Anchorage dealing with a queue of 80 vessels,” the shipbroker reported in a note to clients yesterday. Of the 80 bulkers queuing, 19 are capes.
“China’s recent informal ban on Australian coal imports is reportedly preventing a handful of Capes from discharging, but stricter Covid-19 testing is also slowing down the turnaround of ships in some ports,” Braemar ACM noted.
Splash has reported repeatedly in recent weeks on how the political spat between Canberra and Beijing has led to a host of Australian commodities being banned, while the increased Covid-19 testing underway at Chinese ports has resulted in a significant hit on container shipping supply chains too.