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Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS


Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the queue of vessels waiting to load shortened. The volume exported in the week ended 7 a.m. local time yesterday climbed to 1.83 million metric tons from 1.77 million tons in the preceding period, Newcastle Port Corp. said on its Web site. Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that export the fuel from the harbor.

“coal prices at Australia’s Newcastle port, an Asian benchmark, declined 0.7 percent, falling for the first time in four weeks”

Fifty-five ships, waiting to load 4.5 million tons of coal, were outside the harbor, down from 58 a week earlier. The queue reached 60 vessels in December, the longest since July 2007.

Coal ships queued to load for an average of 15.79 days, from 17.86 days a week earlier, Newcastle Port said. The waiting time compared with 0.61 day

for general-cargo vessels.

Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, declined 0.7 percent, falling for the first time in four weeks. Prices fell to $98.53 a ton in the week ended Jan. 29, according to the globalCOAL NEWC Index.
Source: Bloomberg / Hellenic Shipping News



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