Eastern China's Rizhao port plans to charge higher storage fee for coke cargoes that have long been stored at the port, sources said, as a way to alleviate the shortage of storage places.
The port authority would impose 1-2 yuan/t for coke stocks that are still not cleared out within a specific time limit, jumping from previous 0.1 yuan/t.
Early this month, Rizao port authorities verbally urged trading houses to accelerate stock clearance.
Currently, coke inventories totaled 1.5 million tonnes at the port, already reaching its maxmum designed storage capacity. During April-June, the port's coke stocks were maintained above 1.6 million tonnes.
Some traders were heard to start dumping cargoes to avoid high-priced storage charges.
Source:sxcoal
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