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Friday, 22 January 2016 09:52

Richards Bay coal exports rise to record in 2015

Coal exports from South Africa’s Richards Bay Coal Terminal (RBCT) climbed with 5,7% to a record of 75,4-million metric tons in 2015, exceeding the facility’s target.

Prices of the fuel have fallen more than 40% since the start of 2014 as raw-materials prices are mired in the longest slump in decades on weaker growth in China, the largest consumer of metals to grains. RBCT handles coal from mines owned by companies including Glencore Plc, Anglo American Plc and South32 Ltd. The facility has the capacity to ship 91-million tons annually.

About 59% of the exports went to Asia, mostly India, with shipments to the region declining 7%. Down 6% on the previous year, 19% went to Europe and 14% went to Africa, 7% more than a year earlier.

According to chief executive officer Nosipho Siwisa-Damasane no vessels went to China, whose coal imports fell to the lowest in four years as a slowing economy and government efforts to curb pollution damped demand.

Source: Bloomberg Business

Link: http://www.bloomberg.com/news/articles/2016-01-19/south-africa-s-richards-bay-coal-exports-rise-to-record-in-2015

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