Shipments of coal from Australia's Gladstone port in Queensland were at a nine-month low in January, with South Korea and Taiwan taking the brunt of the losses, while exports to India remained strong, data collected from the Gladstone Ports Corporation showed Monday.
Total coal shipments from the port during the month were 5.24 million mt, down 10.05% year on year from 5.82 million mt, and falling 26.41% from December's 13-month high of 7.12 million mt, the data showed.
Exports to South Korea plunged 62.97% year on year to around 574,000 mt, from 1.55 million mt in January 2016, and also fell 8.89% month on month from 630,000 mt.
Tonnages to Taiwan were at a six-month low of around 150,000 mt, down 12.79% year on year from 172,000 mt and 58.79% from 364,000 mt in December, the data showed.
Shipped volumes to India surged 44.57% year on year to 1.70 million mt in January, from 1.18 million mt a year ago. Exports to India have been strong in recent months with 1.69 million mt in November and 1.89 million mt in December, which compares to a monthly average of 1.31 million mt throughout 2016.
Shipments to Japan, which is the largest recipient of coal sent via Gladstone, rose by 15.79% from 1.71 million mt in January 2016, but fell 12.81% from 2.27 million mt in December, to 1.98 million mt in January, the figures showed. Exports to China were firmly higher from January 2016, when tonnages to the country were lagging but considerably lower than December.
China was sent around 831,000 mt in January, up 45.03% from 573,000 mt a year earlier, and down 39.43% from 1.37 million mt in December, according to the data.
Approximately 70% of coal handled at Gladstone port is metallurgical and the remaining 30% being thermal coal, GPC says.
