Coal exports from the four biggest ports in Queensland, Australia hit their highest level since December 2019, as throughput continued to ramp up after a slow start to 2023.
Hay Point, Dalrymple Bay Coal Terminal (DBCT), Abbot Point and Gladstone shipped 19.01mn t of coal in June, up from 17.85mn t in May, and from 17.36mn t in June 2022, according to port data. The increase was driven by a 3½-year high in shipments from the multi-user DBCT and a two-year high from Gladstone. BHP Mitsubishi Alliance's (BMA's) Hay Point and Adani's Abbot Point, which both had a strong May, eased exports in June, but these were still higher on the year.
The four ports' January-June shipments were 3pc higher than in the first half of 2022, with a 21pc and 17pc increase respectively from Abbot Point and DBCT offset by 8pc and 7pc declines at Hay Point and Gladstone.
The strong ramp-up in DBCT exports reflects the increase in production at UK-South African firm Anglo American's operations following a series of safety failures in 2020 and 2022, as well as increased output by smaller coking coal operators throughout the Bowen basin. DBCT shipped 5.65mn t in June, up from 4.94mn t in May and 5mn t in June 2022, and at the highest level since December 2019.
Increased throughput at DBCT and Hay Point helped cut the ship queue outside the adjacent ports to 36 on 13 July from 39 on 19 June and 60 on 11 May. There are six ships off Abbot Point, in line with a month ago. Gladstone has a queue of 28 ships, up from 23 on 13 June.
Neither Hay Point nor DBCT shipped any coal to China in June, according to initial shipping data collated by Argus. This is the first month since Beijing removed its informal ban on Australian coal imports in January that DBCT has not sent cargoes to China.
Argus assessed high-grade 6,000 kcal/kg NAR thermal coal at $135.21/t fob Newcastle on 7 July, up from $121.47/t on 16 June, but down from a peak of $444.59/t on 9 September 2022. Argus assessed the premium hard low-volatile metallurgical coal price at $227/t fob Australia on 12 July, down from $246.40/t on 10 May and from $367.55/t on 3 March.
