Australia’s Newcastle coal ship queue increases

: Coal, Coking coal
24/08/05

The shipping queue outside the key Australian coal port of Newcastle hit a two-year high of 41 vessels on 5 August, despite higher throughput at the Port Waratah Coal Service (PWCS) terminals.

The average vessel turnaround time in July at PWCS eased to 7.38 days from a 22-month high of 7.61 days in June as exports increased but the shipping queue grew on increased arrivals.
The PWCS terminals' shipments rose to 8.61mn t in July from 7.9mn t in June but was down from 8.79mn t in July 2023, according to PWCS data.
There was no maintenance planned for July but the port of Newcastle was hit by storms and rough seas during the month. There is a major rail maintenance programme under way during 3-6 August.
Newcastle Coal Infrastructure (NCIG) does not release data for its terminal at Newcastle, while the Port Authority of New South Wales has not yet released overall data for July. Newcastle shipped 12.28mn t in June, up from 11.77mn t in May. This implies that NCIG shipped 4.38mn t in June.
Newcastle shipped 73.2mn t during January-June, up from 67.98mn t for January-June 2023, according to port data.

By Jo Clarke

PWCS coal loading data
	Jul '24	Jun '24	Jul '23	Jan-Jul '24*	Jan- Jul '23*

PWCS loadings (mn t)	8.61	7.90	8.79	56.39	52.92
PWCS stocks (mn t)	2.25	1.60	1.53	1.57	1.46
PWCS turnaround time (days)	7.38	7.60	2.88	4.66	2.13
Newcastle ship queue (vessels)	41	31	13	23.57	10.57
Source: PWCS
* PWCS loadings is a total YTD, all others are average per month YTD

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24/10/14

India industries confident of 2030 renewable energy aim

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Mexico’s Sep inflation slows with energy prices

24/10/10

Mexico’s Sep inflation slows with energy prices

Mexico City, 10 October (Argus) — Lower energy prices supported an easing in Mexico's consumer price index (CPI) in September for a second consecutive month. The CPI slowed to an annual 4.58pc in September, down from 4.99pc in August, Mexico's statistics agency Inegi said on 9 October. This was lower than both Mexican bank Banorte's own 4.59pc estimate and its analysts' consensus estimate of 4.61pc. Energy inflation eased for a second month, dropping to 6.9pc from 7.9pc in August and 9.2pc in July, with LPG prices — the largest component — slowing to 14.7pc in September from 16.8pc in August and 25.6pc in July. Seasonal rains, now ending, have largely reversed the price spikes in farm goods caused by extreme drought earlier this year, with fruit and vegetable inflation slowing to 7.65pc in September from 12.6pc in August, making it the first single-digit rate since November 2023. "Despite the positive performance of agricultural items since August, lingering risks could turn them negative again," Banorte said in a note, emphasizing that above-normal rainfall will be needed in the coming months to avoid a return to drought and price spikes next year. For now, Mexican weather agency Conagua still estimates relatively heavy rains in October, but "more adverse" conditions for November and December, with no state forecast to exceed the upper range of historical rainfall. Core inflation, which strips out volatile food and energy, eased in September to 3.9pc from 4pc, moving within the central bank's 2pc to 4pc target range for the first time since February 2021. Inside core, said Banorte, packaged and manufactured goods continue to improve, standing at 2.9pc from 3pc in August. Services also moderated, adjusting to 5.1pc from 5.2pc. "A downward trend in the latter is needed to corroborate additional gains for the core," Banorte said. "This will still take some time, especially given that the margin for additional declines in goods may be running out." The Mexican bank added that within this context, it maintains its estimate for full-year 2024 core inflation to hold to 3.9pc. Though less weighted than core inflation, the bulk of September's easing in the headline was due to non-core inflation, including prices on more volatile items such as fuels and farm goods. Inegi reported non-core moving to 6.5pc in September from 8pc in August. Despite two months of better-than-expected price improvements, Banorte warned that "risks remain," with energy prices susceptible to gains amid "geopolitical tensions in the Middle East and economic stimulus in China." Still, there is "room to adjust gasoline subsidies" to cushion these effects, it added. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Cambodia to push for wind over coal in grid

24/10/10

Cambodia to push for wind over coal in grid

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US inflation slows to 2.4pc in Sep

24/10/10

US inflation slows to 2.4pc in Sep

Houston, 10 October (Argus) — US inflation slowed slightly less than expected in September, but still came in at the lowest annual rate since February 2021, in the first major inflation report since the Federal Reserve started cutting interest rates last month. The headline consumer price index (CPI) eased to an annual 2.4pc in September, down from 2.5pc in August, according to the Labor Department. The decline was less than the 2.3pc forecast in a survey of economists by Trading Economics. Excluding volatile food and energy, so-called core inflation rose to a 3.3pc annual pace, higher than forecasts for core inflation to match the prior period's 3.2pc pace. Today's report is the final CPI report ahead of the next Federal Reserve policy decision on 7 November and it follows a much stronger than expected employment report for September, which together could prompt the Fed to move more cautiously. Still, CPI has come down sharply from its peak of 9.1pc in mid-2022 and, despite aggressive Fed tightening, hiring has continued at a healthy rate and the overall economic expansion remains on track, partly thanks to falling energy prices. The energy index contracted by an annual 6.8pc pace in September after contracting 4pc through August. The food index rose by an annual 2.3pc following a 2.1pc gain in the prior period. Transportation services rose by 8.5pc. Within energy, the gasoline index fell by 15.3pc after a 10.3pc decline in the prior period. Energy services rose by 3.4pc after a 3.1pc gain. Natural gas services rose by 2pc. Shelter rose by 4.9pc after a 5.2pc gain. Transportation services rose by 8.5pc following a 7.9pc gain. Auto insurance was up 16.3pc. On a monthly basis, CPI rose by 0.2pc in September, matching gains in August and July, Labor said. Shelter rose by 0.2pc and food increased by 0.4pc, together accounting for over 75pc of the monthly headline increase, Labor said. The energy index declined by 1.9pc over the month, after falling by 0.8pc in the prior month . By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Russia to present climate strategy at Cop 29

24/10/09

Russia to present climate strategy at Cop 29

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