Australian & South African Steam coal offers have corrected by USD 1-2/MT in current week owing to falling demand in the global market.
South African 5500 NAR (RB-2) coal assessed at USD 73-74/MT CIF India and Australian 5500 NAR at USD 72-73/MT CIF India based on quantity and unload port. HSS (High Sea Sales) offers for the same grade assessed at the level of USD 75-76/MT.
An Indian trader mentioned that currently South African 5500 NAR (RB-2) ready to sale is offered at INR 5,725/MT at Gangavaram port as per loaded to wagon. Meanwhile, the same grade is being offered in the range of INR 5,400-5,700/MT at Gangavaram port for delivered in upcoming months.
India based trader said, “International exporters are not ready to bear uncertain demurrage cost and directly borne by buyers as it increases total freight cost.”
Waiting Period across Different Ports
Krishnapatam: Within 24 hrs to get berth
Gangavaram: 5-8 days waiting time
Paradip: 15 days vessel waiting time at port
Dhamra: Around 15 days vessel waiting time
Importers prefer to import at Gangavaram & Krishnapatnam port owing to minimum waiting time and large vessel handling capacity.
China, world’s largest coal importing country, has announced 3-6% import duty on all grades of imported coal, which will starts from 15 Oct, 2014. This in turn may forces major exporters to reduce their prices.
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