Richards Bay coal exports fall as demand from Europe drops
Coal exports from Richards Bay Coal Terminal (RBCT) fell 3.7% in 2016 to 72.6-million tonnes, missing its target of 75-million on weak demand from Europe. RBCT, which moves the commodity on behalf of producers and shareholders such as Exxaro and Anglo American, aims to raise its exports to 77-million tonnes this year. Africa’s largest coal export facility said on Tuesday that shipments to Europe contributed 12% of the total in 2016, down from 19% a year earlier, as less coal went to Turkey and Spain. Asia accounted for 75% of the total, up from 66% in 2015, due to robust demand from India and Pakistan, RBCT said. Reuters
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