May coal exports from Virginia's Hampton Roads region totaled roughly 3.6 million st, down 8.2% from April and down 17.5% from the year-ago month, the Virginia Maritime Association said Wednesday.
Weak seaborne pricing for both metallurgical and thermal coal continues to hold down exports, despite efforts by the Eastern railroads to lower rail rates to help US coal compete overseas.
The expiration of term contracts, executed when seaborne pricing was stronger, is also likely behind some of the decline.
Through May, year-to-date coal exports from the three terminals total 19.9 million st, down 12.6% compared with the same period last year.
Lamberts Point, which is owned and operated by Norfolk, Virginia-based Norfolk Southern, exported 1,744,436 st in May, up 19.7% from April and up 0.2% from last year. Year-to-date exports total 7,880,790 st, down 14.4% compared with 2013.
Pier IX, owned and operated by Houston-based Kinder Morgan, exported 749,865 st in May, down 29.7% from last month and down 42.7% compared with the year-ago month. Year-to-date exports total 5,086,036 st, down 22.4% from 2013.
Dominion Terminal Associates, which is owned by Arch Coal, Peabody Energy and Alpha Natural Resources, exported 1,165,985 st in May, down 20.3% from April and down 15.9% from the year-ago month. Year-to-date exports total 6,959,598 st, down 1.2% from 2013.
Coastwise coal shipments to domestic US locations from the terminals in May totaled 125,769 st, down 24.9% from April and down 7.7% from last year. Year-to-date coastwise coal shipments total 646,474 st, down 15.7% from last year.
