Coal shipments from Australia’s Newcastle port, which ships mostly thermal coal used in power plants, slipped more than 12 percent last week.
Exports from the east coast port were 2.38 million tonnes in the week to Jan. 10, down from 2.717 million the previous week, Newcastle Port Corporation said.
Australia’s thermal coal prices on the globalCOAL weekly index, a benchmark for Asia, closed at $140 per ton for the week to date, up from $128.75 per ton at the same time last week, as the impact of flooding in Queensland pushed up prices.
The vessel queue at the port was 18, up from 9 ships last week, while the average waiting time for vessels at the port rose slightly to 15.58 days.
Twenty-four ships were travelling to the port to load coal, down 9 vessels from 33 last week, the port said.
In a separate report, the Hunter Valley Coal Chain Coordinator (HVCCC), which helps coordinate coal exports, put the number of vessels in the queue at the port at 42.
The HVCCC calculates the number of ships in the vessel queue using a wider radius from the port than the Newcastle Port Corporation. (Reuters)