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Australia’s Gladstone January coal exports jump 37pct YoY amid higher flow to Japan

Logistic News - Published on Mon, 11 Feb 2019

Image Source: Gladstone Observer
Data from the Gladstone Ports Corporation showed, a total of 6.45 million mt of coal was exported from the Port of Gladstone in Queensland, Australia, in January, up 37% YoY and 4% month on month, as volumes to Japan surged and shipments to India eased off. After surging in 2018, Gladstone’s coal exports to India started the new year on a slightly lower note at 1.42 million tonnes, down from 1.43 million tonnes in January last year and a drop of 12% from December. While it is the first time in five months that exports from Gladstone to India have fallen below the 1.6 million tonnes mark after expansions in the Indian steel sector lifted volumes to as high as 1.95 million tonnes in May last year and 17.75 million tonnes in 2018 as a whole with a 48% YoY jump, the country’s metallurgical coal imports are expected to continue rising again.

Australia’s Department of Industry, Innovation and Science said in late December “India is forecast to overtake China as the world’s largest importer of metallurgical coal in 2020, with India’s imports forecast to grow steadily over the next two years, to reach 71 million tonnes in 2020.” That compares to an expected 67 million tonnes t for China in 2020.

The data showed that China-bound shipments remained depressed in January after a 23% YoY slide in 2018 to 9.94 million tonnes. The January total was 689,000 tonnes, which is up 62% YoY and down 42% month on month. The January volume is below the 2018 monthly average of 825,000 tonnes and well below the 1.08 million tonnes /month average in 2017. There’s expected to be a slight softening in China’s metallurgical coal imports over the next couple of years due to a moderation in the country’s steel production as its economic growth slows.

GPC said that Gladstone’s exports are made up of approximately 70% metallurgical coal and 30% thermal. Japan-bound coal shipments from Gladstone rose to an eight-month high in January with 2.06 million tonnes, showing a 20% rise YoY and 44% increase from December.

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Posted By : Joykumar Irom on Mon, 11 Feb 2019
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