Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell by 22.6 percent last week after scheduled track maintenance and a train derailment disrupted supplies from mines.

Exports in the week ended 7 a.m. local time yesterday declined to 1.46
million metric tons from 1.88 million tons in the preceding period,
Newcastle Port Corp. said on its Web site. Rio Tinto Group, Xstrata Plc
and BHP Billiton Ltd. are among mining companies that export the fuel
from the harbor.

Ship loading will resume later in the week after rail services return to
normal, Port Waratah Coal Services Ltd., operator of the two terminals,
said yesterday. Fifty-five ships, waiting to load 4.78 million tons of
coal, were outside the harbor, up from 46 a week earlier. The queue
reached 60 vessels in December, the longest since July 2007.

The train derailment along with track maintenance work will result in
about 570,000 tons in coal export losses, Port Waratah said. Coal ships
queued to load for an average of 16.35 days, an increase from 15.62 days
a week earlier, Newcastle Port said. The waiting time compares with
0.45 day for general-cargo vessels.

Power-station coal prices at Newcastle, an Asian benchmark, declined 1
percent last week, according to the globalCOAL NEWC Index. Prices
decreased 91 cents to $93.92 a ton in the week ended March 12.

Source: Bloomberg

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