The Richard Bay Coal Terminal (RBCT) of South Africa has been put under temporary closure due to bad weather conditions.
In a recent notification by the Deputy Harbour Master of RBCT, the port operations were suspended with effect from 9Mar’17 as the weather deteriorated, hampering vessel movements.
The suspension of port operations is, however, not likely to impact coal prices in India as demand for South Africa origin coal is low. Indian buyers are currently opting for domestic coal, produced by Coal India Limited, as the prices are competitive in comparison with imported coal.
As a matter of fact, India is the largest importer of South African coal.
Source: CoalMint Research
The port operations will resume after the weather improves.
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