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Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine months.
Shipments fell to 4.55 million metric tons in April from 5.97 million tons in the same month a year earlier, the terminal said in an e-mailed response to questions today. That’s the biggest drop since July last year, when they declined 26 percent. Stockpiles at the terminal climbed to 4.19 million tons, the highest since March 2007.
“It’s the market, its terrible,” Xavier Prevost, a coal analyst in South Africa, said in an interview from his mobile phone today. “With the prices most of the producers are not keen on actually exporting or selling too much coal.”
Prices of coal shipped from the terminal fell 44 percent Over the last year and traded at an average of $58.50 a ton in the week ended May 1, according to Petersfield, England-based McCloskey Group.
The terminal in north eastern South Africa is owned by South Africa’s largest coal exporters, including Anglo American Plc, BHP Billiton Ltd. and Xstrata Plc. It is the biggest source of coal for European power plants.
Sixty-eight ships were loaded during the month and 572 trains arrived at the facility, RBCT said. It received 5.27 million tons of the fuel by rail.
Falling Shipments
At its current shipment rate Richards Bay will export 56.77 million tons of coal this year compared with a capacity of 76 million tons, expanding to 91 million tons by July. When that expansion is complete Richards Bay will be the world’s single biggest coal export facility.
Richards Bay’s shipments this year are likely to be below those last year, Prevost said, adding that he doesn’t expect substantial improvement in demand in 2009. The terminal shipped 61.79 million tons in 2008 compared with 66.16 million tons the year earlier. Exports were reduced by derailments and increased competition for supplies from power utility Eskom Holdings Ltd.
Terry Howarth, the chief executive officer of the terminal, wasn’t immediately available when his office was called.
Transnet Ltd., which operates South Africa’s railways, will close one of two lines to the terminal from May 4-13 for Xavier maintenance.
Source: http://www.bloomberg.com/apps/news?pid=20601116&sid=ahn8lGylbYKg&refer=africa
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Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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