Coal exports from the Port of Gladstone in Queensland, Australia in July, eased from the highs seen in May and June, while volumes to India remained strong, data from the Gladstone Ports Corporation showed Monday.
There was a total of 5.78 million mt of coal shipped from the metallurgical coal dominant port during July, which is down by 4% year on year from 6.05 million mt, and 8% lower than the 6.29 million mt exported in June, the data showed.
Exports from Gladstone surged to a 17-month high of 6.35 million mt in May, after four months of volumes not breaching 5 million mt in a single month.
The higher figures in the past three months have lifted total Gladstone coal exports for the year to July to 37.54 million mt, which translated to an annualized rate of 64.63 million mt. That compares with total volume of 68.29 million mt for 2017.
Exports to India remained high as the country’s steel sector has been undergoing an expansion.
There was 1.77 million mt of coal exported to India during July, which is up 18% year on year from 1.50 million mt and 14% from 1.56 million mt in June.
The figure follows volumes to India from Gladstone hitting a potential all-time high in May of 1.95 million mt, the data shows.
Volumes to South Korea also surged to a possible all-time high, hitting 1.19 million mt in July — the most exported in a single month since at least July 2013. The volume is up 42% from 837,000 mt a year earlier, and 24% above 961,000 mt in June.
Japan, the largest recipient of coal from Gladstone, was sent 1.71 million mt of coal in July, which is down 5% from 1.80 million mt a year ago, and 19% above 1.44 million mt in June, the data showed.
Coal volumes to China slumped to 535,000 mt in July after spiking to a six-month high of 1.52 million mt in June, which showed a 54% year on year drop from 1.17 million mt, it said.
For January-July, there has been 776,000 mt of coal shipped from Gladstone to China, which is down from 1.01 million mt for the same period last year.
Exports to Taiwan slumped to a two-year low of just 79,000 mt in July, which is down 74% year on year from 308,000 mt, and down 54% from 173,000 mt in June, the data showed.
Approximately 70% of coal handled at the Port of Gladstone is metallurgical coal, with the remaining 30% being thermal, GPC says.
Source: PlattsPrevious Next