According to the vessel line-up data compiled by CoalMint research, coal shipments from RBCT (Richards Bay Coal Terminal) has increased 6% on the year during the first half of CY18. Exports from the terminal have been recorded at 39.54 MnT during Jan’18-Jun’18 against 37.25 MnT in Jan’17-Jun’17.
RBCT is the largest coal export facility in South Africa, having a design capacity of 91 MnT per annum. The coal terminal has recently boosted productivity and improved turnaround times after a USD 98 Million machinery upgrade in Jun’18, as it reiterated forecasts for record exports this year.
Monthly exports from RBCT have been falling for the past two month since attaining its highest total in Mar’18 for the half year period, which could be primarily attributed to the drastic surge in coal prices.
As per CoalMint’s assessment, monthly average price of South African 5500 NAR coal was assessed at USD 80.56/MT on FoB basis in Apr’18, against the previous month’s average of USD 78.4/MT.
Any sign of price correction was restrained by the tightness in coal supply as a result of which South African coal price index had crossed the USD 100 mark. Consequently, monthly average of 5500 NAR coal had increased to USD 88.7/MT in May’18.
However, the demand for restocking coal for the rainy season in India and an improved buying from Pakistan has helped the coal exports from RBCT to rebound in Jul’18. RBCT’s coal export had increased 20% M-o-M to 6.51 MnT in Jun’18, which was also 1% higher on the year than the total recorded in Jun’17.
Country-wise Coal Shipments in H1 CY18:
India remained the largest coal receiver in Jan’18-Jun’18, acquiring nearly 46% of the total coal export from RBCT. Besides, shipments to India had increased 13% Y-o-Y to 18.18 MnT during the period.
Pakistan was the second-largest coal receiver in H1 CY18. Coal shipment to the country had increased 26% Y-o-Y to 4.82 MnT in Jan’18-Jun’18.
Coal shipments to South Korea had recorded significant growth of 219% Y-o-Y during H1 CY18. Shipments to Korea has however, fallen 53% Q-o-Q to 1.50 MnT in Apr’18-Jun’18 against 3.19 MnT in Jan’18-Mar’18, as the seasonal change has lowered the coal demand from the country.
RBCT’s coal shipment to its major European consumers-Spain and Netherlands, had fallen in H1 CY18. Both the country had witnessed a fall of 35% in coal supplies during the half yearly period.
Source: Vessel Line-up data, CoalMint research | Quantity in MnT
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