Bulk exports plummet
Total cargo handled dropped by 10% from 8.8mt in February to 7.9mt last month.
AFTER a sudden boom in shipping activities at the Port of Richards Bay in January, bulk exports have plunged by 23% in only two months.
According to Transnet National Ports Authority statistics, bulk cargo exported – including coal, magnetite, chrome, wood chips and zircon – dropped from 9.2 million tons to just over 7mt last month. The commodities sent off totalled just over 8mt.
Bulk imports slightly increased month-on-month by 0.23%, from 469 169 tons to 470 245.
Meanwhile break bulk shipped off from the local harbour, such as pig iron, granite, aluminium and steel, was up by 11% – from 291 799 tons in February to 373 343 tons last month.
Total cargo handled dropped by 10% from 8.8mt in February to 7.9mt last month.
Fall after strong start
The robust trade of bulk during January was consistent with trade statistics from the Provincial Treasury, indicating the mining index at the start of the year surged by 5.1% year-on-year – the strongest growth in two-and-a-half years.
‘Coal production, which accounts for 72% of the province’s mining industry, increased by 16% and the output of building materials and other non-metallic minerals also grew compared a year ago,’ said economist Mike Schüssler in the KZN barometer report.
‘Part of the reason for the strong growth is probably the low base created last year when the platinum strike that started in January in the North West led to a general slowdown in mining activity across the country.’
