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South African september thermal coal exports fall 15.1% on year to 5.93 mt

South Africa exported 5.93 million mt of thermal coal in September, slipping 15.1% year on year due to lower shipments to India, Europe, Turkey, Pakistan and the US, according to customs data. The volume was, however, 3.5% up on August 2015 and at a four-month high, with increased shipments to Europe and the United Arab Emirates.

Exports for the January-September period totaled 54.49 million mt, 1.6% higher than the volume shipped during the same 2014 period. India continued to be the largest destination for South African thermal coal in September, with 2.07 million mt shipped during the month. The volume was 21% lower than a year ago and also slipped 12% from the previous month.

During the first nine months of the year, 25.65 million mt of thermal coal was exported to India, 47% of the total material shipped during the period. Shipments to the whole of Europe in September remained above 1 million mt for the third consecutive month with 1.54 million mt shipped to countries in the region. The volume fell 16.8% on the year, but rose 39.7% from August to an eight-month high.

Included in the total volume shipped to Europe was 804,344 mt of thermal coal exported to the Netherlands during September, more than four times higher than the 168,041mt shipped in August, but dropping 35% on the year.

Italy received 295,000 mt during the month, rising 37% on month and compared to nothing in September 2014, while Spain took 154,691 mt, falling 43% on year and down 69% from August. South African thermal coal shipments to the UAE at 309,000 mt almost tripled on the year from 105,000 mt in September 2014, also increasing from no exports in August.

Exports to Turkey slumped 81% on year to 215,000 mt, also a fall of 5% from the previous month. Shipments to Pakistan fell 43% on the year and 67% from August to 213,720 mt, a seven-month low.

It has been a year since South Africa exported any thermal coal to China, while no material was sent to South Korea, Israel or the US.

Spot FOB Richards Bay 6,000 kcal/kg NAR coal spot prices continued to fall during September, pressured by continued oversupply amid limited demand for the material. Indian buying also neglected to return as the monsoon season came to an end, due to credit issues and better availability of domestic thermal coal.

Platts 7-45 day price assessment lost $3.45 from the beginning of the month to $49.15/mt FOB September 30.

source: http://www.hellenicshippingnews.com