Coal exports shrink on complicated ice situation

摘要

In the second half of February, freight rates, for large lots primarily, have been on the rise on major routes. In the Baltic Sea, it is bad weather that has hampered coal exports in February and pushed transportation costs up. Due to severe ice conditions in the Gulf of Finland, shipowners avoid sending vessels to some ports. Therefore, transportation, especially in small-tonnage segment, is declining. In late February Handymax tariffs for coal shipped from St.Petersburg to the UK have risen by $1/ t to $15-16/t.