December BDI performance is positive, representing a sharp increase compared to the whole year, which was a quite unstable one. Steam Coal trade experienced its highest level in December 2020, reaching 84 million tonnes. China contributed significantly with its coal imports peaking to 14 million tonnes in December, twice the quantity compared with each of the last 4 months. The congestion from the previous months as well as a general restocking, are a good explanation for this sudden spike in December. Australia and Russian Federation enhance this positive trend with their exports growing both 4 million tonnes from November.
Iron ore trade is also in a positive direction. Total trade increased from 136 million tonnes to 146 million tonnes compared to a year ago. Australia’s exports remained at the same level as last December, while it met a huge rise of 8 million tonnes from the last month, November 2020. Brazil however, increased its last year exports by 8 million tonnes, reaching in December 33 million tonnes from 25 million tonnes.