Australia's major coal loading port of Newcastle has projected to ship around 12.6 MnT of coal. Whereas, it shipped around 3.1MnT of coal in the first week.
According to port’s weekly report:
• There are 4 vessels off the port waiting to load.
• There are 37 vessels with Notified Arrival Time (NAT) allocated and in transit.
• There are 6 vessels in the port loading.
Newcastle Port has attended 35 coal vessels till 11th June and presently it has 3.42 days of average waiting time. Whereas, prior to this week the average waiting time was 6.57 days.
In May India imported approx 2.8MnT of coal from which 89% was Coking coal and 11% was Non-coking coal. All these cargoes reached India on variety of vessels, but, mostly, it reached by panamax and supramax vessels.
Australia’s 6000NAR of non-coking coal remained at $86/MT level. Whereas, hard coking coal premium has come down to $136.25/MT because of weak global demand. However, sea freight from Australia to India is $19.80/MT on supramax vessels, $14.10/MT on panamax vessels and $11.60/MT on cape size vessels.
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