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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
 Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in the first quarter of next year, as many as three months later than expected.
The terminal’s capacity “will be 81 million tons by the end of this month, progressing towards 91 million tons during the first quarter of next year,” Chief Executive Officer Raymond Chirwa said in an e-mailed statement today. The terminal’s capacity now is 76 million tons a year.
Richards Bay, Africa’s largest coal export terminal, said on June 15 that it had postponed the completion date of the expansion until the fourth quarter. More than 80 percent of its coal exports are destined for Europe and the Indian sub- continent, according to Chirwa.
At its November shipment rate, the terminal will export 60.6 million tons of coal this year, down from 61.79 million tons in 2008.
Richards Bay, located on South Africa’s eastern coast, is owned by South Africa’s largest coal exporters, including Anglo American Plc, BHP Billiton Ltd. and Xstrata Plc. While it is the world’s largest coal-export terminal, the Australian port of Newcastle ships more of the fuel from two terminals.
Source: Bloomberg
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Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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