Long queues at port as demand for coal soars  

Posted by Big Gav in ,

There seem to be plenty of jitters about the Chinese economy, but for now it is sucking in coal rapidly - Long queues at port as demand for coal soars.

THE queue of ships at the world's biggest coal port, Newcastle, is near its longest level since before the financial crisis and waiting times are at a one-year record.

In a sign of the booming demand for coal, figures published this week show 58 ships were waiting on Monday, just shy of the pre-Christmas peak of 60, which was the longest queue since mid-2007.

Average waiting times for vessels at the port have also blown out to a fresh one-year high of 17.86 days, the Newcastle Port Corporation figures show.

The trend, mirrored at key ports around the country, points to the soaring demand from coal buyers in China and Europe, after severe winters caused a surge in demand for electricity.

Most of the coal shipped through Newcastle - used by Xstrata, Rio Tinto and Centennial Coal - is thermal coal used by power stations. Its price jumped to more than $US100 a tonne earlier this month amid subzero temperatures in key markets.

The growing queues are a positive sign for export industries, but they also highlight the increasing strain on port infrastructure as the global resources boom gathers pace.

This month Macarthur Coal announced a delay to its Middlemount expansion plan, after it was unable to secure access to third-party rail and water infrastructure.

Over-reliance on China is also seen as a risk for the industry. China has come to the rescue of coal exporters in the past year, but recent market fears that its economic growth could slow this year sent a shiver through share prices in the sector.

0 comments

Post a Comment

Statistics

Locations of visitors to this page

blogspot visitor
Stat Counter

Total Pageviews

Ads

Books

Followers

Blog Archive

Labels

australia (617) global warming (421) solar power (396) peak oil (353) renewable energy (301) electric vehicles (249) wind power (194) ocean energy (165) csp (158) geothermal energy (144) solar thermal power (144) energy storage (142) smart grids (140) solar pv (138) tidal power (137) oil (136) coal seam gas (131) nuclear power (128) china (118) lng (116) iraq (113) geothermal power (112) green buildings (111) natural gas (110) agriculture (92) oil price (80) biofuel (78) wave power (73) smart meters (72) coal (69) uk (69) electricity grid (67) energy efficiency (64) google (58) bicycle (51) internet (51) surveillance (50) big brother (49) shale gas (49) food prices (48) tesla (46) thin film solar (42) biomimicry (40) canada (40) scotland (38) ocean power (37) politics (37) shale oil (37) new zealand (35) air transport (34) algae (34) water (34) arctic ice (33) concentrating solar power (33) queensland (32) saudi arabia (32) california (31) credit crunch (31) bioplastic (30) offshore wind power (30) population (30) cogeneration (28) geoengineering (28) batteries (26) drought (26) resource wars (26) woodside (26) bruce sterling (25) censorship (25) cleantech (25) ctl (23) limits to growth (23) carbon tax (22) economics (22) exxon (22) lithium (22) buckminster fuller (21) distributed manufacturing (21) iraq oil law (21) coal to liquids (20) indonesia (20) origin energy (20) brightsource (19) rail transport (19) ultracapacitor (19) santos (18) ausra (17) collapse (17) electric bikes (17) michael klare (17) atlantis (16) cellulosic ethanol (16) iceland (16) lithium ion batteries (16) mapping (16) ucg (16) bees (15) concentrating solar thermal power (15) ethanol (15) geodynamics (15) psychology (15) al gore (14) brazil (14) bucky fuller (14) carbon emissions (14) fertiliser (14) ambient energy (13) biodiesel (13) cities (13) investment (13) kenya (13) matthew simmons (13) public transport (13) biochar (12) chile (12) desertec (12) internet of things (12) otec (12) texas (12) victoria (12) big oil (11) cradle to cradle (11) energy policy (11) hybrid car (11) terra preta (11) tinfoil (11) toyota (11) amory lovins (10) antarctica (10) fabber (10) gazprom (10) goldman sachs (10) gtl (10) severn estuary (10) volt (10) afghanistan (9) alaska (9) biomass (9) carbon trading (9) distributed generation (9) esolar (9) four day week (9) fuel cells (9) jeremy leggett (9) methane hydrates (9) pge (9) sweden (9) arrow energy (8) bolivia (8) eroei (8) fish (8) floating offshore wind power (8) guerilla gardening (8) linc energy (8) methane (8) nanosolar (8) natural gas pipelines (8) pentland firth (8) relocalisation (8) saul griffith (8) stirling engine (8) us elections (8) western australia (8) airborne wind turbines (7) bloom energy (7) boeing (7) chp (7) climategate (7) copenhagen (7) scenario planning (7) vinod khosla (7) apocaphilia (6) ceramic fuel cells (6) cigs (6) futurism (6) jatropha (6) local currencies (6) nigeria (6) ocean acidification (6) somalia (6) t boone pickens (6) space based solar power (5) varanus island (5) garbage (4) global energy grid (4) kevin kelly (4) low temperature geothermal power (4) oled (4) tim flannery (4) v2g (4) club of rome (3) norman borlaug (2) peak oil portfolio (1)