Shipments of coal from Gladstone in Australia’s Queensland state fell in November despite strong demand from Japan, according to data from Gladstone Ports (GPC). Gladstone shipped 5.31 million mt of coal in November, up from 5.25 million mt in October, but down from 5.58 million mt in November 2021. Japan took 2.29 million mt of coal from Gladstone in November, the most since June 2021, according to GPC. Taiwan took 570,000 mt, down from a record 1.13 million mt in October. The Netherlands was the only European country to take coal from Gladstone in November.
This highlights the trend of Australian thermal coal exports falling over the last 5 years. This trend is set to continue in 2022 which has been supportive of coal prices despite the Russian invasion of Ukraine. If this trend continues in 2023 and beyond, the elevated coal price cycle will also continue.
You can read the article from Argus, linked here.
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