According to the vessel line-up data compiled by CoalMint research, coal shipments from South Africa’s premium port, RBCT (Richards Bay Coal Terminal) have been recorded at 6.67 MnT in Oct’18, which incidentally was the highest total in the past 7-months.
Exports were marked 2% higher on the month from 6.53 MnT in Sep’18. While, on the yearly basis, export shipment from RBCT stretched its declining streak to fourth straight month, as it was 2% lower Y-o-Y from 6.79 MnT in Sep’17.
Despite recording 7-month high exports, RBCT’s shipments have been affected by fall in demand from its major customer-India, whose imports had hit its lowest total for the year in Oct’18.
Indian coal sourcing has remained quiet post monsoon since they had stocked adequate coal for the rainy season. While factors such as Rupee depreciation against USD, and better coal pricing from alternative markets viz. Australia and Indonesia, have also lowered the appetite for South African coal among Indian buyers.
A country-wise break up of RBCT’s coal shipments indicate that Indian imports had fallen 26% M-o-M to 2.20 MnT in Oct’18, which were also 22% lower on the year from 2.80 MnT in Oct’17.
Netherlands has shown renewed interest for South African coal recently, and was again the second-largest importer from RBCT in Oct’18 despite recording a fall of 32% in monthly coal receipt. The country had taken 0.66 MnT coal in the month.
Pakistan remained the third-largest coal receiver with slight improvement in imports to the tune of 0.56 MnT in Oct’18 against 0.5 MnT in Sep’18.
However, the slight rise in RBCT’s Oct’18 shipments was majorly driven by South Korea, wherein firm power demand and a small decline in nuclear availability lifted country’s import to a 4-month high of 0.45 MnT in Oct’18.
Turkey, France, Sri Lanka and Spain were among the other receivers who had posted a growth in imports from RBCT during the month.
| Country | Oct’18 | Sep’18 | % Change |
| India | 2.20 | 2.95 | -26% |
| Netherlands | 0.66 | 0.97 | -32% |
| Pakistan | 0.56 | 0.50 | 13% |
| Turkey | 0.50 | 0.33 | 50% |
| South Korea | 0.45 | 0.12 | 288% |
| Spain | 0.38 | 0.27 | 43% |
| France | 0.29 | 0.00 | – |
| Sri Lanka | 0.20 | 0.00 | – |
| Taiwan | 0.16 | 0.17 | -4% |
| Others | 1.27 | 1.23 | 3% |
| Total | 6.67 | 6.53 | 2% |
Source: CoalMint Research, Vessel Line-up data
Quantity in MnT
RBCT Update
Media reports have claimed that operations have been resumed at RBCT after severe weather conditions had bought vessel loading to halt last week.
Last Thursday, it was reported that four-metre waves were hampering inbound vessel movements, with as many as 24 vessels waiting to berth and a backlog of 1.6 MnT to ship.
However, market participants were left unfazed by the disruptions, in part thanks to high stocks at European import terminals and relatively low Asia-Pacific demand. Since then, South African coal index had fallen 3% W-o-W, being assessed at USD 95.6 as on 13 Nov’18.
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