There were 35 ships delayed outside Richards Bay Coal Terminal in South Africa on Wednesday, up from 27 two weeks ago, S&P Global Platts trade flow software cFlow showed.
The rise in delayed ships is due to high winds and swells in the area which caused further delays from Monday, according to market sources.
Shipping sources expected the delays to continue in the near-term as further bad weather was forecast through to the weekend and over the coming week.
The Supramax size Ocean Pearl was originally expected to arrive at RBCT on November 5, while the remaining 34 delayed ships were expected to arrive between December 4-20.
Sixteen of the vessels are returning from India; three from Kenya, Mauritius and Singapore; two from Sri Lanka; one vessel each from Pakistan, the Maldives, Malaysia, and the United Arab Emirates; and four are returning from other ports in South Africa.
Nine ships were moored at loading berths. The average deadweight tonnage of the delayed ships is 78,735 mt.
According to sources, the delays are not affecting pricing for South African coal significantly as these coals had been bid up close to a multiyear high in recent weeks, so sources were actually anticipating a possible downward correction despite the delays.
A January-loading FOB Richards Bay 6,000 kcal/kg NAR cargo last traded November 29 via globalCOAL at $95/mt with no deals for this grade reported since, and Platts FOB Richards Bay 5,500 kcal/kg NAR spot price was assessed at $78.55/mt Tuesday down from the year to date high of $81.20/mt the week previous.
Platts’ dry bulk Panamax spot freight rate from Richards Bay-West Coast India was $12.55/mt Wednesday down 35 cents week on week, while the Capesize Richards Bay-Rotterdam spot freight rate fell to $10.40/mt from $12.50/mt.
The cFlow software can detect and track the location of individual cargo ships, their current status in terms of whether they are stationary or moving, their type of cargo, intended destination and estimated arrival time, and other key operational information.
Source: PlattsPrevious Next