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Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS


Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 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 increased to 2.08 million metric tons from 2.02 million tons in the preceding period, Newcastle Port Corp. said on its Web site. Rio Tinto Group, Xstrata Plc, BHP Billiton Ltd. and Peabody Energy Corp are among mining companies that ship the fuel from the harbor.

Thirty-four vessels, waiting to load 2.32 million tons of coal, were outside the harbor, up from 33 a week earlier. The queue reached 60 in December, the longest since July 2007.
Coal ships waited to load for an average of 11.11 days, down from 12.80 days a week earlier, Newcastle Port said. That compares with 0.27 day for general-cargo vessels.

Power-station coal prices at Newcastle, an Asian benchmark, declined 3.7 percent last week, according to the globalCOAL NEWC Index. Prices fell to $102.23 a ton from $106.20 in the week to May 14.
Source: Bloomberg / Hellenic Shipping



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