South African monthly coal export fell by 21% in Dec’16 compared with last month, besides yearly exports also decreased by 12%.
South Africa, one of the largest thermal coal exporters, shipped about 6.26 MnT of coal to different destinations in Dec’16. The monthly coal exports have recorded a sharp fall by 21% compared to Nov’16 and also recording a year-wise decline by 12% compared to Dec’15. As per the data procured from South African Vessel line-up updates.
Coal exports in Dec’16
South African coal shipments reduced in Dec’16, on the wake of constantly rising FoB offers from South Africa, which have hit the highest in Oct’16. Current offers for 6000 NAR thermal coal are assessed at USD 85/MT, FoB for Jan’17 loading.
Out of the total monthly exports, South Africa basically ships more than 80% of coal to India. However, India’s slow demand in the month of December have resulted from persisting higher offers, increased domestic availability amid demonetization effect in the country deterred regular buying from sponge iron manufacturers. South African 5500 NAR coal is being offered at USD 82-82/ MT, CFR India Jan’17 loading.
South African Coal Export in 2016
Yearly exports from South Africa in 2016 were recorded at 75.82 MnT, down by 4% as compared to 78.58 MnT in 2015.
Source: South African Vessel Line-up
Quantity in MnT
Country-wise coal export in Dec’16
India is one of the largest buyers of South African thermal coal on which country’s whole sponge industry is largely dependent. India imports about 1.11 MnT coal during the month, saw a major decline by 62% M-o-M. Yearly imports also followed the similar trend.
Netherlands, second largest coal importer from South Africa, received 0.49 Mnt coal in Dec’16, down by more than 25% M-o-M. However, Netherlands did not import any coal in the corresponding month of the previous year.
South Korea, third major coal importer, received 0.46 MnT coal, down marginally by 4% M-o-M. However, Yearly coal imports have increased significantly by more than 0.30 MnT.
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