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Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW


Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, stretched to its longest in more than two years as exports slowed for a second week.

Sixty ships, waiting to load 4.2 million tons of coal, were outside the harbor at 7 a.m. local time yesterday, up from 52 vessels a week earlier, Newcastle Port Corp. said on its Web site. The queue is the longest since July 2007.

The volume exported last week fell 1.1 percent to 1.91 million metric tons, after slipping 0.1 percent the week before. Coal ships queued for an average 13.2 days, up from 11.7 days the week before, the port said. The waiting time compared with 0.1 days for general-cargo vessels.

Power-station coal prices at Newcastle, a benchmark for Asia, rose 1.5 percent to $81.06 a ton for the week ended Dec. 18, the first gain in four weeks, according to the globalCOAL NEWC Index.

Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through the harbor.
Source: Bloomberg



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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
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Monday, 28 December 09
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A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...


Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...


Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...


Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...


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