According to the vessel line up data compiled by CoalMint Research, Non-Coking coal shipments from South Africa’s premium port Richards Bay Coal Terminal (RBCT) has fallen on the monthly basis in Nov’17.
Total shipments from RBCT were recorded at 6.36 MnT during the month against 6.79 MnT in Oct’17. Nov’17 coal shipments have dropped to the 7-month low, as per the record maintained. However, exports have been relatively steady on account of the increase in coal demand from South Korea.
South Korean coal import from RBCT was 0.71 MnT during the 4-month period of Apr’17-Jul’17, however imports from the country has surged to 2.908 MnT during the next 4-month period of Aug’17-Nov’17. The country had witnessed a sudden rise in coal demand as a result of the nuclear power outage, and was forced to shift towards coal-based power generation for the winter season.
The decline in Nov’17 shipments could be attributed to the weak exports to its major consumers India, Pakistan and Netherlands.
It may be noted that the Netherlands is the fourth-largest coal importer from RBCT in CY17, but has not received a single coal shipment during the month. The country is undergoing adverse winter season that does not permit vessel movements and it may happen that they have already covered up their coal demand in Oct’17.
Major Non-Coking Coal Receivers:
India continued to remain the largest Non-coking coal receiver from RBCT, however monthly shipments were down 7% M-o-M to 2.62 MnT in Nov’17 compared with 2.80 MnT in Oct’17.
Indian coal imports from RBCT have been falling on the monthly basis, ever since the country had received the highest coal shipment of 3.55 MnT in Sep’17.
Indian buyers’ are awaiting the final call on the possible ban on pet coke, which is expected to come later this month. The ban, if imposed would result in another round of the surge in coal prices, as many pet coke consumers would have to use South African coal.
Recently, South African coal price index has moved up in line with the rising global coal prices. API-4 index was assessed at USD 95.90 level; with 5500 NAR coal offered at USD 79-80/MT, FoB Richards Bay.
South Korean coal imports rose 97% M-o-M to 1.15 MnT in Nov’17. Gibraltar was the third-largest Non-Coking coal receiver, with total import of 0.40 MnT during the month.
Source: Vessel Line-up data | Quantity in MnT
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