NPC Shipment Roars over Increased Demand from China

• NPC Shipped 11.9 MnT Coal in November, 2013
• Shipment jumped by 54% to 3.4 MnT in a Week
• Ports targets to ship 12.9 MnT of coal In December

Newcastle Port Corporation (NPC), Australia’s major coal shipping port has seen a quick shipment jump on week ended 2 Dec, 2013.

NPC, which is known as world’s leading Coking and Non-coking Coal exporter has reported its coal shipment during week ended 2 Dec, 2013 jumped by 54 per cent.

During the week under review, NPC has shipped around 3.4 MnT of Coal in a week and a total of 0.5 MnT of the material has been shipped to different destinations in the December month so far.

NPC shipped 8 per cent more Coal in Nov, 2013 than the projection of port authority. Port has targeted to ship around 11.4 MnT of Coal, owing to the demand and so, 11.9 MnT Coal shipped were made Nov, 2013.

For the current month (December, 2013) port has forecasted to ship around 12.9 MnT of Coal, a month ahead of good buying has been seen from China and other countries. However, on the basis of current situation, port authorities are estimating to ship around 13.1 MnT Coal in December, basis of actual shipped and projected balance from the Coal terminal.

The Port has also reported that during the week ended on 2 Dec ,2013 38 vessels entered in the port for loading with an average waiting time of 3.4 days. However, during the preceding week, around 28 vessels had entered the Port with an average waiting time of around 1.6 days.

At the end of the week, 8 vessels had loaded Coal, 12 vessels were waiting to get loaded and 21 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 83-84 per MT. Chinese Coal buyers are looking forward to secure inventory in advance ahead of the Chinese New Year (CNY) holiday which starts at the end of January.