Colombia exported 5.65 million mt of thermal coal in March, falling 28% year on year and dropping 27% from February's 11-month high to the lowest monthly volume since April last year, data from Colombian shipping agent Deep Blue showed over the weekend.
The decreases came due to lower shipments to the Netherlands, Turkey and Spain, although there were noticeable exports to India during the month.
Thermal coal exports to the Netherlands fell 56% on the year in March to 807,577 million mt, which was also down 69% from the previous month and at the lowest monthly volume since July 2015.
Exports to Spain also fell 71% on the year and 60% on the month to 166,817 mt, a 14-month low, while no material was shipped to the UK for the third straight month.
European coal demand had been low this year due to low coal burn after another mild winter, as well as ample stocks at ports and utilities.
The second-largest destination in March was India, which was shipped 651,708 mt of Colombian thermal coal in four Capesize shipments exclusively from Puerto Drummond and made up 11.5% of the monthly volume despite the country only having sent the odd shipment of coke to India in the past year.
Earlier this year, the arbitrage for Colombian coal into India opened due to lower dry bulk freight rates, making the material more competitive than higher price South African material. The first vessels were fixed for loading in March.
Thermal coal shipments to Turkey plunged 73% year on year in March to 330,429 mt, also dropping 75% from the previous month to the lowest volume since Platts record began at the beginning of 2014.
The US was shipped 582,511 mt of Colombian thermal coal during the month, up 23% on-year and 10% higher on the month to a five-month high.
Colombia sent 497,413 mt of thermal coal to Israel in March, which was 2% lower compared to the same month in 2015, but increased 46% from February to a three-month high.
Shipments to Portugal, Brazil and Chile were similar in volume at 486,211 mt, 406,812 mt and 395,906 mt, respectively.
LOWER EXPORTS FROM CERREJON, DRUMMOND
During March, thermal coal shipments from the country's largest miner Cerrejon's Puerto Bolivar terminal fell 36% year on year to 2.17 million mt, which was also 7% lower than February.
Puerto Drummond exports also dropped 24% on the year in March to 2.2 million mt, also down 34% on the previous month.
Puerto Nuevo, owned by Glencore unit Prodeco, shipped 1.01 million mt, dropping 20% from March 2015 and falling 35% on the month.
Shipments from third-party port Carbosan-Sociedad Portuaria de Santa Marta rose 5% on-year to 255,344 mt, but fell 47% on the month.
The monthly March average for Platts FOB Colombia 6,000 kcal/kg NAR thermal coal price was $43.84/mt, compared to $41.38/mt in February.
