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- Common Sense
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Exclusive: North Korean ships head home after China orders coal return
Exclusive: North Korean ships head home after China orders coal returned
A fleet of North Korean cargo ships is heading home to the port of Nampo, the majority of it fully laden, after China ordered its trading companies to return coal from the isolated country, shipping data shows.Following repeated missile tests that drew international criticism, China banned all imports of North Korean coal on Feb. 26, cutting off the country's most important export product.
To curb coal traffic between the two countries, China's customs department issued an official order on April 7 telling trading companies to return their North Korean coal cargoes, said three trading sources with direct knowledge of the order.
U.S. President Donald Trump and Chinese President Xi Jinping were discussing North Korea at Trump's Mar-a-Lago resort on April 7.
To make up for the shortfall from North Korea, China has ramped up imports from the United States in an unexpected boon for U.S. President Donald Trump, who has declared he wants to revive his country's struggling coal sector.Eikon data shows no U.S. coking coal was exported to China between late 2014 and 2016, but shipments soared to over 400,000 tonnes by late February.This trend was exacerbated after cyclone Debbie knocked out supplies from the world's top coking coal region in Australia's state of Queensland, forcing Chinese steel makers to buy even more U.S. cargoes.
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- tennyson
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Re: Exclusive: North Korean ships head home after China orders coal return
China bans all coal imports from North Korea amid growing tensions
China's Ministry of Commerce, in a public notice jointly issued with the country's customs agency Saturday, said the decision was made to comply with a UN Security Council resolution that China helped draft and pass last November.Resolution 2321 imposed some of the toughest sanctions yet against the North Korean regime, after it disregarded an earlier UN ban to test what it said was a nuclear warhead in September 2016.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
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Re: Exclusive: North Korean ships head home after China orders coal return
If this indeed does help American coal miners that will be a good thing. China is well aware, however, that they need to look to other than coal long term and are working aggressively in that direction.
It is ALSO good that they (China) helped write and are now helping endorce the UN Resolution to put pressure on N Korea. Please note that this resolution was done prior to our current Administration getting involved as the deal was in part brokered by former UN Ambassador Samantha Power. .
Last edited by tennyson (4/14/2017 2:50 pm)
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
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