By Jesse Riseborough
Feb. 24 (Bloomberg) -- Coal shipments from Australia’s Newcastle, the world’s biggest export harbor for the fuel, jumped 32 percent last week while the number of ships waiting outside the port was unchanged.
The volume shipped in the week ended 7 a.m. local time yesterday rose to 1.82 million metric tons from 1.4 million tons a week earlier, Newcastle Port Corp. said today on its Web site. A total of 17 ships, waiting to load 1.5 million tons of coal, were lined up outside the port.
Coal ships waited 5.1 days to load coal, down from 8.7 days a week earlier, Newcastle Port said. The waiting time compared with 2.6 days for general cargo vessels last week.
A total of 21 vessels carrying coal left Newcastle in the week ended Feb. 21, Newcastle Port said today in an e-mailed report. Fifteen ships were bound for Japan, two for South Korea and one each Taiwan, Mexico, the Netherlands and Malaysia.
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, dropped 4.9 percent to $76.33 a ton in the week ended Feb. 20, according to the globalCOAL NEWC Index.
Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through Newcastle.
To contact the reporter on this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.net
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