According to the vessel line-up data compiled by CoalMint Research, Non-coking coal export shipments from South Africa’s premium port Richards bay (RBCT) has increased 10% M-o-M to 7.37 MnT in Mar’18.
Exports had rebounded during the month of Mar’18 after falling to 6.69 MnT in Feb’18 from 7.25 MnT in Jan’18.
The growth in coal exports could be attributed to the downward correction in prices, which had improved the buying appetite of coal.
South African coal supply had played a major role in keeping the coal prices volatile. Coal prices, which had come down in Mar’18, has now been rallying back in Apr’18.
Coal Index API-4 has gone up USD 3 since the beginning of Apr’18, assessed at USD 93.30 as on 10 Apr’18. Market participants have noted that tightness in coal supply has offered support to the coal prices, which is expected to ease in the coming month. South African 5500 NAR coal was offered at a discount of USD 6-7/MT, priced at USD 79/MT, FOB Richards Bay, this week.
Still, coal exports from RBCT have been maintained higher on the year-on-year basis, during the first three months of CY18. As per the data, Non-coking coal exports from RBCT stood 21.31 MnT in Jan’18-Mar’18 period, which was 16% more than the exports of 18.42 MnT coal recorded during the corresponding months of CY17.
Major Coal Receivers:
India was the largest receiver of coal shipments from RBCT. However, Indian import demand continued to remain subdued during the month, marked 10% lower at 2.48 MnT in Mar’18, against 2.74 MnT in Feb’18.
Pakistan overtook South Korea, to become the second-largest coal receiver in Mar’18. Import from the country was 1.32 MnT during the month, up 74% M-o-M from 0.76 MnT in Feb’18. South Korean coal imports had fell 8% M-o-M to 1.10 MnT.
Coal import from Taiwan had recorded remarkable growth during the month, rising from 0.17 MnT in Feb’18 to 0.41 MnT in Mar’18.
Apart from Asia, the European countries also constitute a major share in RBCT’s monthly coal shipments. However, Imports from Europe’s major coal receiving countries-Spain and Netherlands, were down on the monthly basis in Mar’18. Coal import by Spain totaled 0.16 MnT in Mar’18, which was nearly half of its previous month’s total of 0.33 MnT. Besides, Netherlands’ monthly coal import witnessed a noticeable drop of 78% to 0.05 MnT in Mar’18.
Source: CoalMint Research, Provisional Data | Quantity in MnT
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