Coal exports out of the terminals in the Hampton Roads region in Virginia were at a six-month low 3.43 million st in July, down 3.6% from 3.56 million st in June and the lowest since 2.911 million st in January, Virginia Maritime Association data showed Tuesday.
However, the latest month was up 23.8% from 2.77 million st a year ago and the highest total for the month of July since 3.72 million st was shipped out in July 2013.
Exports continue to rise as global seaborne prices show strength, which creates more opportunities for US coal as buyers seek less-expensive alternatives.
CIF ARA 6,000 kcal/kg coal, for 15-60 day delivery, has averaged $89.77/mt since January 1, including $100.27/mt averaged in July. It averaged $79.80/mt in the same period a year ago and $83.49/mt in July 2017. The $100.27/mt averaged in July was the highest monthly average since $105.62/mt in January 2012.
Cumulative exports from the terminals have reached a four-year high 25.29 million st since January, up 26.5% from 19.99 million st a year earlier and the highest amount for the first seven months of a year since 26.56 million st in 2014.
At the three individual terminals in the region, Dominion Terminal Associates, based in Newport News, was the only one to see a monthly increase when it exported 1.29 million st in July, up 4% from 1.24 million st in June and up 13.6% from 1.14 million st in the year-ago month.
Since January 1, coal exports at the terminal -- which is owned by Arch Coal and Contura Energy and served by CSX -- totaled 9.1 million st, up 39.7% from 6.51 million st in the same period a year ago.
Lamberts Point, based in Norfolk, saw exports reach 1.37 million st in July, down 1.2% from 1.39 million st in June but up 27.7% from 1.07 million st last year.
For the year, exports through the terminal, owned and operated by Norfolk Southern, totaled 10.61 million st, up 24.2% from 8.55 million st exported in the same period a year ago.
Pier IX, also based in Newport News, exported 768,921 st in July, down 17.2% from 928,277 st in June but up 36.9% from 561,462 st in the year-ago month. Since January 1, exports at the terminal, which is owned and operated by Kinder Morgan and served by CSX, have reached 5.58 million st, up 13.3% from 4.93 million st in the first seven months of 2017.
