According to the vessel line-up data compiled by CoalMint research, coal shipments from RBCT (Richards Bay Coal Terminal) have increased 2% on the month to 5.43 MnT in Aug’18 against 5.35 MnT in Jul’18.
The monthly growth in export shipments have came against the drop in demand from its major customers-India and South Korea.
During Aug’18, coal shipments to Indian had fallen to 18-month low since Feb’17, while RBCT’s third-largest coal importer-South Korea had not imported any shipments during the month.
RBCT’s total coal shipments have crossed the 50 MnT mark during the first 8-months of CY18, witnessing a slight increase as it grew to 50.32 MnT in Jan’18-Aug’18 against 50.29 MnT in Jan’17-Aug’17. However, a break-up of 8-month’s export when split into halves, point out a dissimilar pattern during the two periods.
In the first four months of CY18 (Jan’18-Apr’18), shipments from RBCT had grew 15% Y-o-Y to 27.62 MnT against 23.92 MnT recorded in the same period year-ago. While, in the next 4 month period (May’18-Aug’18), shipments have dropped 14% Y-o-Y to 22.7 MnT against 26.37 MnT.
Finding cue from the rising international prices, the previous months’ surge in prices had made South African coal fallen out of favour against coal from other origins. Eventually, growth in RBCT’s coal shipments on Y-o-Y basis have been recorded only once (in Jun’18) during the last 4 months.
With the recent correction in price South African coal index had reached USD 98 last week, but it has again crossed the 100 USD mark this week, assessed at USD 101.05 as on 12 Sep’18 thereby extending its stay at the higher side.
Major Coal Importers:
Indian coal imports from RBCT continue to drop in Aug’18, as high coal prices and ample of coal stocked prior to the monsoons had limited buying sentiments. Import in Aug’18 was down 32% M-o-M to 2.22 MnT against 3.26 MnT in Jul’18.
Pakistan was the second-largest coal importer in Aug’18.The country’s imports increased 36% M-o-M to 0.95 MnT against 0.7 MnT in Jul’18.
Netherlands was the third-largest coal receiver with imports of 0.25 MnT in Aug’18. The country along with Gibraltar, Argentina, Taiwan and Egypt were among those who had taken coal shipments from RBCT in Aug’18 after a month’s break. Import by Mauritius had increased nearly 4-folds to 0.2 MnT in Aug’18.
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