Apart from China, iron-ore and coal demand
from other fast-growing economies, in particular India
and the Republic of Korea, have also been significant.
Iron-ore shipments from Brazil contributed the most
ton–miles growth given distances involved on the
Brazil–China trade. The average distance travelled by
iron-ore trade has risen by 6.7 per cent between 2000
and 2012 while, during the same period, the average
distance travelled by coal trade fell by 13.1 per cent
to 4,002 miles, reflecting, in particular, the shorter
distances between China, Australia and Indonesia
(Crowe, 2012). More recently, the shale revolution in
the United States has meant that there is now more
coal available to be exported, including to Europe and
Asia. As a result, coal ton–mile exports from the United
States are trending upwards. In 2011, its coal exports
were 127 per cent higher than in 2007, while in ton–
miles the growth averaged 152 per cent (Clarkson
Research Services, 2012a). In a separate development
affecting dry-bulk trade, some observers are predicting
that if new regulation in Indonesia – a major supplier of
minerals such as coal, bauxite and nickel destined for
China – effectively constrains exports from the country,
China will likely look for substitute sources, including
from relatively distant locations such as Australia.