Richards Bay coal exports at 13-month low – SSY
Coal exports from Richard’s Bay, South Africa, totalled just 5,17-million tons in April, the lowest for 13 months, Simpson, Spence & Young ship consultancy said on Monday.
Citing offical data quoted by the McCloskey Group, SSY said exports had slipped to their lowest level since last March. The April figure compared with 6,40-million tons in April 2005 and 5,65-million tons in March 2006, it said.
“Given the low throughput in the year to date, exporters now estimate that shipments from Richard’s Bay will reach a maximum of just under 68 Mt, compared with the target at the beginning of the year of 74 Mt,” SSY said.
Analysts have said the slip in mineral exports had contributed to the weak outlook of the ocean freight market in recent weeks, with the capesize market particularly pressured.
Richard’s Bay Coal Terminal is the world’s largest with a capacity of over 80-million tons per annum.
Source: Reuters
