Kolkata, India — MININGREVIEW.COM — 19 May 2010 – South Africa’s Richards Bay coal terminal “’ Europe’s biggest source of the fuel burned for power “’ cut shipments to the Atlantic region by more than 43% in April and increased sales to Asia by 16%.
Atlantic sales fell to 1.02 million metric tonnes from 1.8 million a year earlier, according to two research notes by Mjunction Services Limited “’ a Web-based trader backed by India’s biggest steel producers. Exports to Asia climbed to 2.89 million tonnes from 2.5 million, the trader based here said in the notes dated April 10 and April 12.
Bloomberg News reports that South Africa is boosting Asian exports as economies in India and China recover from last year’s slowdown, while demand in Europe falls amid concern that Greece’s sovereign-debt crisis will spread. India and China “’ whose economies are growing at rates faster than 8% “’ together accounted for about 42% of Richard Bay’s shipments in the first quarter of this year, compared with about 25% a year earlier.
Coal exports from Africa’s largest export terminal fell about 14% to an 11-month low of 3.92 million tonnes in April, after rising 17% in March to 5.66 million tonnes, according to data on its website.
The terminal’s stockpiles were at 4.62 million tonnes as of April 30, as it shipped about 70% of the 5.6 million tonnes it received from mines, according to the port data.
At the current shipment rate, the terminal will export 56.8 million tonnes of coal for all of 2010, compared with its capacity of 91 million tonnes.
Asia’s imports from South Africa rose by about 65% to 13.18 million tonnes in the first four months of 2010 from a year earlier, according to the notes from Mjunction, which is co-owned by Tata Steel Limited and Steel Authority of India Limited. Exports to Atlantic countries fell to 6.12 million tonnes in the period, from 10.40 million a year earlier, equivalent to 32% of Richards Bay’s shipments, Mjunction said.
The port declined to comment on the data and didn’t respond to e-mails sent by Bloomberg.