Coal terminal chases target
RBCT reaches annual coal export target of 72-million tons.
DESPITE the roller coaster ride Richards Bay Coal Terminal (RBCT) has endured, the company still remains optimistic about concluding 2014 by reaching their annual coal export target of 72million tons.
This target was dropped by three million tons after RBCT suffered a power outage in February, resulting in the terminal shutting down for nine days.
RBCT was forced to temporarily declare force majeure.
Their loss was estimated to be around 2mt (worth about R1.8-billion), because of coal that could not be railed into the terminal for export.
In August, the terminal’s shareholders decided to discontinue publishing the company’s website stats as they believed competitors within the coal market were able to view stockpile information – critical to sustainable business operation.
In addition to this, the poor state of the export coal thermal market in the second half of the year led to RBCT’s CEO, Nosipho Damasane refuting retrenchment rumours.
Damasane was adamant they were in a ‘bullish’ position.
However, industry sources revealed the coal terminal had loaded 63.3mt by the end of November, still 9.7mt short of the 72mt goal.
With a design capacity of 91mt, RBCT has the potential to export a monthly average of 7.6mt.
Exporting this average in December would only lead to a yearly target of 70.9mt being met, meaning RBCT will have to go in guns blazing to achieve the desired target.
RBCT was not available for comment at the time of going to print.
