Australian Gladstone port’s Aug coal exports hit 4-month low at 5.35 mil mt

10-Sept-2018

Coal exports from Gladstone port in Australia’s Queensland state hit a four-month low in August as volumes to key destinations Japan and India fell while to South Korea remained strong, Gladstone Ports Corporation data showed Thursday.

A total 5.35 million mt of mostly metallurgical coal was shipped from Gladstone in the month, down 10% year on year and down 8% from July, the data showed. The total was also down from a 17-month high of 6.35 million mt in May, but had not been above 5 million prior to that in 2018.

Over January-August 42.89 million mt of coal was exported from Gladstone, equating to an annualized rate of 64.42 million mt; the 2017 total was 68.29 million mt.

Export volumes from Gladstone to Japan stood at 1.45 million mt in August, down 14% on year and down 15% from July, and to India hit a four-month low at 1.22 million mt, down 24% on year and down 31% from July, the data showed.

However exports to South Korea, at 1.2 million mt, were up 108% on year and up 1% from July, and the highest since at least July 2013. Over January-August, exports to South Korea totaled 7.37 million mt, equating to an annualized rate of 11.07 million mt; the 2017 total was 9.95 million mt.

Exports to China totaled 816,000 mt, down 37% on year but up 53% from July. Over January-August the total was 6.24 million mt, equating to an annualized rate of 9.38 million mt; the 2017 total was 12.98 million mt.

Shipments to Taiwan totaled 268,000 mt, down 54% on year and up 238% from July. Over January-August the total was 1.37 million mt, equating to an annualized rate of 2.06 million mt; the 2017 total was 3.1 million mt.

Approximately 70% of coal handled at Gladstone port is metallurgical coal and the balance 30% thermal, according to GPC.

Source: S&P GLOBAL PLATTS