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Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES


Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 percent last week while the number of vessels waiting to load increased.

The volume exported in the week ended 7 a.m. local time yesterday dropped to 1.95 million metric tons from 2.05 million tons a week earlier, Newcastle Port Corp. said on its Web site. Forty-eight ships, waiting to load 3.9 million tons of coal, were outside the harbor, up from 42 a week earlier.

Port Waratah Coal Services Ltd., operator of the port’s two export terminals, has told producers it plans to cut export allocations by a combined 1 million metric tons this quarter to reduce the ship queue. Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through Newcastle.

Coal ships waited for an average 14.2 days to load, up from 12.7 days a week earlier, Newcastle Port said. The waiting time compared with 0.97 day for general cargo vessels, it said.

Twenty vessels carrying coal sailed in the week ended July 18, Newcastle Port said today in an e-mailed report. Twelve ships were bound for Japan, three for China, three for South Korea and two for Taiwan.

Power-station coal prices at Newcastle port, a benchmark for Asia, rose 6.4 percent to $76.23 a ton in the week ended July 17, according to the globalCOAL NEWC Index.
Source: Bloomberg



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