Coal exports rise despite global surplus
Richards Bay Coal Terminal shapes up and ships out more coal.
THE market is chock-a-block full with coal, but that did not stop the Richards Bay Coal Terminal (RBCT) from going full steam ahead with shipments last month.
RBCT increased exports by over 500 000 tonnes from just under 5-million in June to nearly 5.5-million in July, while the tonnage of coal received from mines remained consistent at around 6.3-million tonnes.
The exports were made via 58 vessels – 31 Capesize vessels, 15 Handysize and 12 Panamax.
According to the company’s operating statistics, southern Asia was again the majority buyer with 3.3-million tonnes (61%) shipped to the region, which includes heavy coal burning countries India and Pakistan.
Western Europe, with Germany using more coal to generate electricity than any other EU country, was the second biggest importer with over 1-million tonnes (19.6%) sent there.
However, coal heavyweight China, which consumes 50% of the world’s thermal coal, is still limiting their imports as the growing surplus and shrinking demand has dramatically changed the Asian import and export trends.
Even though China estimates reaching its peak coal consumption in 2016, Eastern Asia only imported 136 589 tonnes of coal last month – 2.5% of RBCT’s total exports for July.
So far this year, the terminal has exported over 37-million tonnes of coal (4.8% down year-on-year) via 222 Capesize vessels, 96 Handysizes and 66 Panamaxes.
