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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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Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
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- Edison Trading Spa - Italy
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- Planning Commission, India
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- Energy Link Ltd, New Zealand
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- Goldman Sachs - Singapore
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