World’s leading Coking and Non-coking Coal exporter, Newcastle Port Corporation (NPC) has reported its coal shipment during week ended on 25 Nov, 2013 dropped by 22.6%.
During the week under review, NPC has shipped around 2.2 MnT of Coal in a week and a total of 9 MnT of the material has been shipped to various destinations in the month so far.
As forecasted by the Port, around 11.1 MnT of Coal is expected to be shipped during the month ahead of demand . However, on current situation, port authorities are estimating to ship around 11.4 MnT in November on the basis of actual shipped and projected balance from the Coal terminal.
The Port has also reported that during the week ended on 25 Nov, 28 vessels entered in the port for loading with an average waiting time of 1.6 days. However, during the preceding week, around 31 vessels had entered the Port with an average waiting time of around 0.9 days.
At the end of the week, 8 vessels had loaded Coal, 8 vessels were waiting to get loaded and 36 vessels are expected to reach the Port.
It has been noted that over the slightly increased demand from China, Australian 6000 NAR Kcal/kg Coal quoted at USD 84-85 per MT, which gained a little ahead of winter season buying.
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