Coal news and updates

Combined coal stocks at China’s key Bohai Rim ports up 1.1% w-o-w

Combined coal stocks at China’s four key Bohai Rim ports—Qinhuangdao, SDIC Caofeidian, Jingtang and Tianjin port—rose 1.1% week on week to 16.91 million tonnes, showed data on September 21.

Stocks at Caofeidian port amounted to 2.66 million tonnes on the same day, up 1.14% on week, showed data from Qinhuangdao Port Group.

Coal stocks at Qinhuangdao port stood at 6.04 million tonnes; Jingtang port saw its coal stock reach 1.96 million tonnes; while stocks at Tianjin port reached 2.98 million tonnes.

The persisting high stocks were mainly due to the current slack coal market and subdued demand from downstream sectors.

Freight rates for vessels shipping coal from northern China to the south continued to drop amid weak shipment demand from downstream utilities. Freight rates for 50,000-60,000 DWT vessels shipping from Qinhuangdao to southern China’s Guangzhou stood at 21.3 yuan/t on September 21, falling 0.1 yuan/t on day and down 0.7 yuan/t on week.

Daily coal consumption at power plants under six coastal utilities averaged 0.51 million tonnes on September 21, while their combined coal stocks stood at 13.47 million tonnes, up 0.22% on week, enough to cover 26.4 days.
 
source: http://en.sxcoal.com