Just when you thought that things were improving between the two countries, the situation on the ground begs to differ from the supposed high-level talks that have took place recently. It is being reported that one Australian vessel, the BBC Maryland, which is carrying about 12,000 tonnes of thermal coal bound for China has been redirected to Vietnam after waiting five days awaiting customs clearance in China.
The vessel is believed to be one of the first to reach China from Australia after the supposed partial easing of the ban on Australian coal imports, that was placed two years ago amid the whole spat during the pandemic between the two countries.
According to one of the industry sources in China cited by Reuters, "the destination change sends a signal to the market that Chinese authorities have not fully removed the import restrictions of Australian coal". Another source adds that "we haven't heard any successful case of coal traders passing the customs clearance".
Oof.
