Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 11 percent last week while the number of vessels waiting to load decreased.
The volume exported in the week ended 7 a.m. local time on Monday climbed to 2.05 million metric tons from 1.86 million tons a week earlier, Newcastle Port Corp. said on its Web site. Forty-two ships, waiting to load 3.58 million tons of coal, were outside the harbour, down from 47 ships the previous week.
Coal ships queued for an average 12.7 days to load, up from 11.7 days a week earlier, Newcastle Port said. The waiting time compared with 1.4 days for general cargo vessels, it said.
A total of 26 vessels carrying coal left the Newcastle in the week ended July 11, Newcastle Port said yesterday in an e-mailed report. Thirteen ships were bound for Japan, five for China, three for Korea, three for Taiwan, one for Mexico and one for Rotterdam.
Power-station coal prices at Newcastle, a benchmark for Asia, fell 2.1 percent to $71.63 a ton in the week ended July 10, according to the globalCOAL NEWC Index.
Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through Newcastle.
Source: Bloomberg
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