Coal news and updates

Hampton Roads coal exports jump 21.4% in September: association data

Coal exports from terminals in Virginia's Hampton Roads region were mixed in September, down 2.4% from August, but up 21.4% from the same month a year ago, according to data the Virginia Maritime Association issued Thursday.

Year-to-date exports from the Lambert's Point, Pier IX and Dominion Terminal Associates terminals total about 38.6 million short tons, up 1.2% compared with the same period a year ago.

The increase in exports is welcome news for coal producers, who continue to ship metallurgical and thermal coal to destinations in Europe and Asia despite a long slide in seaborne coal prices, although they have rebounded recently.

Platts assessed the price of CIF ARA thermal coal (basis 6,000 kcal/kg NAR for delivery to Northern Europe within the next 15-60 days) Thursday at $83.10/metric tons, up nearly 16% from a low of $71.75/mt in early July.

While the US exported a record 126 million mt in 2012, the US Energy Information Administration estimates 2013 coal exports will be down only slightly, to 115.3 million mt, according to its most recent monthly projection.

Lambert's Point, which Norfolk Southern owns and operates, exported about 1.7 million st in September, up 1.6% from August and up 36.9% from September 2012.

Year-to-date coal exports from Lambert's Point total 16.1 million st, up 9.2% from the year-ago period.

Pier IX, which Kinder Morgan owns and operates, exported about 1 million st in September, down 7.8% from August but up 17.1% from the year-ago month.

For the year, Pier IX coal exports total about 10.5 million st, down 12% compared with the year-ago period.

DTA, which Arch Coal, Peabody Energy and Alpha Natural Resources own, exported about 1.3 million st in August, down 3.1% from the prior month but up 8.5% year on year.

The terminal's year-to-date exports total about 12 million st, up 4.7% from last year.

Source: Platts