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Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE


Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.

Exports rose to 5.52 million metric tons from 5.15 million tons in the same month a year earlier, the terminal said in an e-mailed response to questions today, without giving reasons for the increase. In May the port shipped 3.76 million tons, a 16-month low.

Prices of coal exported from the port rose to the highest in more than four months in June. The fuel climbed to $65.30 a ton in the week ended June 12, according to Hampshire, England-based market researcher McCloskey Group Ltd. That’s the highest since the week ended Feb. 20 when the price was $68.35 a ton.

The terminal on South Africa’s northeastern coast 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.

At its current shipment rate Richards Bay will export 56.3 million tons of coal this year compared with a capacity of 76 million tons and actual shipments of 61.79 million tons last year.

Stockpiles declined to 4.05 million tons as of June 30 from 4.32 million tons at the end of May. Seventy-three ships were loaded during the month and 680 trains arrived at the facility, RBCT said. It received 5.25 million tons of the fuel by rail.

Source: Bloomberg
(
http://www.bloomberg.com/apps/news?pid=20601116&sid=a3rtWBRAi_aE)



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