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RBCT April shipment up by 7.7%

Steel News - Published on Tue, 08 May 2012

Shipments from Richards Bay Coal Terminal, Africa’s largest export facility for the fuel, rose 7.7% to 5.17 million metric tons in April from a year earlier.

According to a statement published on its website, RBCT whose owners include BHP Billiton Ltd and Anglo American Plc received 5.97 million tonnes of coal in the month, and had stocks of 3.6 million tonnes. It has capacity to export 91 million tonnes a year.

It said on April 16 that Transnet SOC Ltd plans to shut the Richards Bay coal railway line for maintenance May 15 to May 24 to improve operational efficiency.

Deliveries from the port on South Africa’s north-east coast fell 17% compared with March as increased shipments from the US depressed demand from Europe and Asia.

Xavier Prevost, analyst at XMP Consulting said that “There is an oversupply of coal in Europe, China and India. The US market is very depressed, and shale gas is taking an increasing market share from coal. As a result, US coal is going to India, China and Europe.”

Source - Bloomberg

(www.steelguru.com)

Posted By : admin on Tue, 08 May 2012
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