Coal exports from the Port Waratah Coal Services terminal at Australia's Newcastle port were lagging in June with shipments to Japan slumping to a 26-month low, data from the operator showed Monday.
A total 7.89 million mt of coal was outloaded at PWCS in June, down 5% year on year and 18% from May, and was the smallest monthly volume since the 22-month low of 7.64 million mt seen in February.
Tonnages to Japan slipped by only 1% year on year to 3.96 million mt, but that made it the weakest month for Japan-bound PWCS exports since April 2015 when 3.07 million mt was shipped. The June volume was down by 28% from 5.51 million mt in May.
Volumes to China and Taiwan also slumped in June, falling 38% year on year and 36% month on month to 640,000 mt and 46% year on year and 29% month on month to 850,000 mt, respectively. Shipments to South Korea surged 44% year on year and 36% from May to 1.32 million mt in June, and, like in June last year and May this year, no coal was exported to India.
Despite the weak month for Japan and China in June, their total tonnages in fiscal year 2016-2017 (July-June) were up from the previous year, at 56.76 million mt and 13.44 million mt, respectively, from 54.43 million mt and 11.46 million mt in fiscal 2015-2016.
And, despite the strong month for exports to South Korea, its fiscal year total dropped to 12.43 million mt from 15.50 million mt.
Total PWCS shipments edged lower year on year in fiscal 2016-2017 to 109.15 million mt, from 109.46 million mt, the data showed.
