South Africa's RBCT May exports slip 30.3% on month to 4.3 million mt
London (Platts)--4Jun2013/823 am EDT/1223 GMT
Coal exports from South Africa's Richards Bay Coal Terminal during May slipped 30.3% month on month to 4.3 million mt, according to the latest operating data released by the port Tuesday.
The export total was also 6% below the amount of tonnage dispatched in May 2012, but still marginally higher than the 20-month low of 4.2 million mt shipped in January.
Sources said the 12-day maintenance period from May 14-25 on state-owned logistics group Transnet Freight Rail's coal line that runs from coal mines in the country's interior to the 91 million mt/year east coast port had affected railings, exports and stocks.
TFR railed 3.2 million mt of coal to RBCT during the month, plunging 45.7% on month and 17.2% on year. The volume was also the lowest amount of coal railed since June 2011.
The number of trains to RBCT fell to 405 in May from 742 the previous month, while 39 ships left the terminal, down from 57 in April.
Coal stocks at the port amounted to 2.5 million mt at the end of May, falling 31.6% from April and 20.7% lower than May 2012. It was the lowest end-of-month stock figure since the 1.8 million mt reported at the end of January 2011.
Trading sources said that throughout the month there was a shortage of prompt cargoes available from South Africa, which helped to boost the price of physical Richards Bay thermal coal basis 6,000 kcal/kg NAR for loading within the subsequent 7-45 days to $82.80/mt at the end of May, up from $80.05/mt at the beginning of the month.
However, prices were relatively rangebound throughout May, assessed in a $3.15/mt range of $80.05-83.20/mt, according to Platts data.
CCC Price at posting:
3.9¢ Sentiment: LT Sell Disclosure: Not Held
