September 08, 2008

Newcastle coal exports drop by 18% on protests

Bloomberg reported that coal exports from Australia's Newcastle fell by 18% last week as climate change protesters disrupted loadings.

Newcastle Port Corp said that the volume shipped in the week ended fell to 1.61 million tonne from 1.96 million tonne a week earlier. A total of 36 ships, waiting to load 2.96 million tonne of coal, were lined up outside the port, the same number as last week.

Shipments from the port were delayed last week after protesters chained themselves to a conveyor and railroads, temporarily halting coal loading and delaying deliveries. Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through Newcastle.

Newcastle Port Corp said that coal ships waited 11.12 days to load coal in the week ended July 21, unchanged from a week earlier. It said that the waiting time compared with 0.08 day for general cargo vessels.

Newcastle Port Corp said that a total of 33 vessels carrying coal left Newcastle in the week ended July 19, two fewer than a week earlier. It said that seventeen ships were bound for Japan, two for Taiwan and one each for Korea, Turkey and Noumea.

According to the globalCOAL NEWC Index, the weekly index for power station coal prices at the New South Wales port fell AUD 6.85 to AUD 180.85 a tonne in the week ended July 18.