Australia's Gladstone port posted a slump of 54.48% in coal exports to China compared with July's multi-year high, according to data from Gladstone Ports Corporation.
In August, Gladstone port shipped 755,300 tonnes of coal to China, down 7.44% from the preceding year.
Coal exports of Gladstone port totaled 5.77 million tonnes in August, up 7.9% from a year ago but down 15.7% month on month.
Specifically, the port exported the most coal to Japan with 1.59 million tonnes, increasing 9.54% on the year and 19.5% on the month. Coal exports to India came in at 1.57 million tonnes, rising by 28.14% year on year and 6.9% month on month.
Besides, it shipped 856,400 tonnes of coal to South Korea in August, plunging 28.39% from a year ago and 35.46% from a month prior; and 253,900 tonnes of coal to Holland, surging 221.4% on the year because it didn't export coal to Holland during the same period of last year.
Gladstone port exported 48.9 million tonnes of coal over January-August of 2019, up 14.01% compared with the same period of last year. About 70% of coal shipment at Gladstone port is metallurgical and rest 30% is thermal coal.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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