CANBERRA: The vessel queue at Port Waratah Coal Services’ two terminals at Newcastle port in eastern Australia hit a seven-week low of 18 ships this week, down from 22 a week earlier, shipping data released Tuesday by the Hunter Valley Coal Chain Coordinator showed.
The logistics coordinator for Newcastle coal shipments expects the queue to remain around this week’s level until end July.
“Based on terminal demand, the queue at PWCS is estimated to be 18 at the end of June and 19 at the end of July,” HVCCC said in its report. The queue was last shorter in early April, when it dipped to 13-15 ships amid low demand for physical coal shipments.
Over the seven days to Sunday, throughput at the PWCS terminals totaled 1.824 million mt of coal, down 20.7% or 475,000 mt from 2.3 million mt the week before, HVCCC said in its report. Stocks at the PWCS coal terminals rose to 1.85 million mt from 1.32 million mt over the same period, it added.
Producers forecast coal arrivals at the PWCS terminals to total 9.1 million mt in June before rising to 9.8 million mt in July and falling to 7.2 million mt in August, HVCCC said. A total 3.37 million mt of coal was railed to Newcastle port’s three terminals in the week to Sunday, HVCCC said; the two operated by PWCS and the third by Newcastle Coal Infrastructure Group terminal.
Coal received by rail fell 7% or 260,000 mt week on week in the seven days to Sunday, but was up 15% or 430,000 mt year on year. The year-on-year increase came despite an increase in cancellations. “Total losses [in the supply chain’s throughput] finished the week at 11.1% compared to [a] declared target of 7.4%,” HVCCC said in its report.
