After two dissapointing months in a row, exports from Richards Bay Coal Terminal rose 6.2% month-on-month to 5.6 million mt in October

July saw the terminal reach 6.3 million mt in exports, which is so far  it’s highest export figure for 2012.

State-owned logistics group Transnet Freight Rail (TFR) railed 5.5 million mt of coal to the terminal during the month, down 9.9% from September’s total and 15.3% year-on-year. This is the lowest monthly volume railed since May when scheduled maintenance was carried out on the coal line.

So far this year, TFR has railed 57.1 million mt to RBCT, which in turn has exported 55 million mt of coal in the ten month period.

Despite the dip in railings and rise in exports, stocks at RBCT remained relatively stable at 4 million mt, edging up 0.7% month-on-month in October, although slipping 7% from the same month in 2011.

This is the highest month-end stock level reported at the terminal since October last year when stocks were 4.3 million mt.

South African Richards Bay FOB thermal coal prices fell to 34-month lows of $79.75/mt by the end of October, down $4.75 from the start of the month. Trading sources cited an abundance of seaborne coal amid minimal demand and Indian buyers pulling back bids on the weakness, as well as stronger Capesize freight rates pressuring FOB prices.