The euphemisms we use ensure that we never unmask the perpetrators beyond the frontline scapegoats, who in any case, almost always get off scot-free.Īn 80-year-old lady sits in her daughter’s living room and asks animatedly, “What did Twitter say today? Eh heh? Oooh, I really want to thank Twitter for helping me.
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The word “theft” is rarely used in public because it would entail naming the thieves and allowing ourselves to experience the full extent of the violation, complete with a sense of guilty silence and complicity. We roll the word on our tongues and give it pet names, such as scandals, hustling, deals, cat-walking, growing legs, eating and kitu kidogo, to name a few. The unofficial ban was enacted around the middle of last year, and China’s imports from Australia dropped from 9.65 million tonnes in June 2020 to just 435,559 tonnes in June this year, according to Kpler.Ĭhina has tried to get around its ban on Australia by importing more from Indonesia, the biggest exporter of thermal coal, as well as from Russia, the United States and even South Africa, which hasn’t been a traditional shipper to China.In Kenya, corruption conjures up images of a favourite pair of well-worn and spit-polished shoes that one cannot bear to throw out. One of the factors driving lower coal imports has been Beijing’s unofficial ban on buying from Australia, the world’s second-biggest shipper of thermal coal, amid an ongoing dispute with over a variety of issues, including Canberra’s call for an international investigation into the origins of the coronavirus.Ĭhina’s imports from Australia, which used to be its second-largest supplier, have dropped to virtually zero, with only a handful of cargoes being offloaded in recent months, according to commodity analysts Kpler. However, for the first six months of this year, China imported a total of 139.56 million tonnes of coal, down 19.7% year-on-year, according to the data. It also means domestic coal prices are well above the unofficial government target zone of 500 to 570 yuan a tonne, a level believed to provide both miners and utilities with sufficient profits.
This was the highest price since the consultancy started collating data in December 2011, and it means that coal has more than doubled from a 467 yuan a tonne low in 2020, reached amid slumping power demand as China locked down much of its economy to combat the spread of the coronavirus pandemic. The dramatic drop in profitability comes amid a surge in domestic thermal coal prices, with SteelHome data showing the benchmark price at Qinhuangdao in northern China ending at 1,009 yuan ($155.47) a tonne on Wednesday. The only utility to post a rise in profits was Changyuan Electric, which benefited from its large portfolio of renewable energy, according to Refinitiv analyst Yan Qin. Out of 10 listed coal-fired power companies, four reported losses and five others saw first-half profits plunge, according to a report on Chinese energy industry website BJX News on July 27. Water vapour rises from a cooling tower of a China Energy ultra-low emission coal-fired power plant during a media tour, in Sanhe, Hebei province, China July 18, 2019.
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