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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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Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
Monday, 19 September 16
AFTER YEARS OF COMA, COAL BECOMES THE MOST ATTRACTIVE COMMODITY RIGHT NOW
COALspot.com: China boosted coal imports in recent months. The Chinese government’s drive to cut over capacity pushed up the demand for therm ...
Monday, 19 September 16
THE CAPE INDEX WAS UP 7.28% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined and ending in a slightly negative note this past ...
Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of ...
Friday, 16 September 16
U.S. WEEKLY COAL OUTPUT DECLINED 6.2% TO 15.1 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.1 million short ton ...
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