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Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES


Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the number of vessels waiting to load rose.

The volume exported in the week ended 7 a.m. local time yesterday decreased to 1.52 million metric tons from 1.8 million tons a week earlier,

Newcastle Port Corp. said on its Web site. A total of 39 ships, waiting to load 3.1 million tons of coal, were outside the harbor.

Coal ships queued for an average 13.4 days to load, up from 11.1 days a week earlier, Newcastle Port said. The waiting time compared with 0.4 days for general cargo vessels, it said.

A total of 19 vessels carrying coal left Newcastle in the week ended June 20, Newcastle Port said today in an e-mailed report. Eleven ships were bound for Japan, five for Korea, two for China and one for Mexico, it said.

Power-station coal prices at Newcastle port, a benchmark for Asia, fell 7.7 percent to $70.81 a metric ton in the week ended June 19, according to the globalCOAL NEWC Index. It was the first decline since the week ended May 15.

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

Source: Bloomberg (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=axZag9kIyijk)



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