By Jesse Riseborough
June 16 (Bloomberg) -- Coal exports from Australia’s Newcastle, the world’s biggest export harbor for the fuel, dropped 17 percent last week and the number of ships waiting outside the port fell.
The volume shipped in the week ended 7 a.m. local time yesterday fell to 1.8 million metric tons from 2.17 million tons a week earlier, Newcastle Port Corp. said today on its Web site. A total of 33 ships, waiting to load 3.2 million tons of coal, were lined up outside the port, down from 37 last week.
Coal ships waited 11.1 days to load coal, up from 10.7 days a week earlier, Newcastle Port said. The waiting time compared with 1.2 days for general cargo vessels last week, it said.
The weekly price index for power-station coal shipped from Newcastle advanced 3.3 percent last week to $76.75 a ton, the highest in almost four months, according to the globalCOAL NEWC index. Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through Newcastle.
A total of 22 vessels carrying coal left Newcastle in the week ended June 13, Newcastle Port said today in an e-mailed report. Seven ships were bound for Japan, six for South Korea, five for China and one each for New Caledonia, Vietnam, Mexico and Malaysia.
To contact the reporter on this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.net
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