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Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG


COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the number of vessels queuing to load decreased.

The volume shipped in the week ended 7 a.m. local time yesterday increased to 2 million metric tons from 1.7 million tons a week earlier, Newcastle Port Corp. said on its Web site. A total of 22 ships, waiting to load 1.9 million tons of coal, were lined up outside the harbor, down from 37 a week earlier.

Coal ships queued for an average 8.8 days to load, down from 11.4 days a week earlier, Newcastle Port said. The waiting time compared with 2.1 days for general cargo vessels, it said.

A total of 23 vessels carrying coal left Newcastle in the week ended May 2, Newcastle Port said today in an e-mailed report. Nine ships were bound for Japan, seven for China, five for South Korea and two for Taiwan, it said.

The weekly price index for power-station coal shipped from Newcastle fell 1.3 percent to $62.26 a ton, the lowest since April 3, according to the globalCOAL NEWC index.

Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through Newcastle.

Source: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ap8sdMiKDABw



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