South Africa will not be able to reach its 65 million tonnes of coal exporting expectations for 2010 due to the transport strike that has crippled rail and ports. This is according to the Richards Bay Coal Terminal (RBCT). RBCT Chief Executive Raymond Chirwa is quoted saying: “On average we could be receiving 1.3-1.4 million [...]
One of the largest export coal terminals in the world, Richards Bay Coal Terminal (RBCT)’s exports to India from South Africa has fallen from 2.5-million in March to 1.7-million tonnes in April. The fluctuation is due to rail capacity constraints. One exporter is quoted saying: “The Indian demand is still very strong and steady, there’s [...]
Coal prices have risen 30 per cent from their low in March. However, for the second half of 2009, there are still risks of tight coal supply. In China, many domestic producers have arbitraged the low offshore prices with higher onshore prices, which has made demand look stronger than it was. So, correction is expected in the new two months. However, strong demand for thermal coal in China and India is expected to help Asia avoid the first fall in imports for a decade this year, and push import growth even higher in 2010.
India is on a coal buying spree ad the nation is scrambling to cover an expected shortfall in domestic supply. Coal majors are entertaining all levels of deals, from minority stakes in mines to becoming an operator. Many are chasing stakes in large-scale mines of 10 million to 15 million tonnes a year. Also being eyed are mid-sized thermal coal blocks in Australia.
South Africa’s Chamber of Mines declared the country’s coal producers and mineworkers had agreed a two-year wage deal, averting the possibility of a strike in the sector. For full story, click here
The Indian market is paying the highest prices at present for South African spot coal. For full story, click here
South Africa’s coal employers have made an improved wage hike offer to workers in the sector, the Chamber of Mines declared on Tuesday. For full story, click here
South African miner Coal of Africa Ltd has agreed to purchase the remaining 26 percent of the Vele coking coal project in South Africa. For full story, click here
South African logistics group Transnet declared a plan by its rail division to upgrade its coal line had fallen behind schedule by 12 months due to the late delivery of new locomotives. For full story, click here
Indian cement maker Ultratech has purchased 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery. For full story, click here
Get our independent commentary on coal trends and companies delivered to your inbox.
