Exports from South Africa’s Richards Bay Coal Terminal (RBCT), the world’s largest single facility for the fuel, rose to a record in 2014.
The terminal shipped 71.2 million tons last year compared with 70.2m tons a year earlier, chief executive Nosipho Siwisa-Damasane told reporters at the port yesterday.
It also received 72.4m tons by rail, 2.8 percent more than in 2013. This is the second year that deliveries and exports have exceeded 70m tons. The target for shipments was 72m tons.
Faults on municipal power cables halted operations for 10 days in February, with the backlog cleared by the end of March. The facility seeks to handle about 74m tons this year, and maintenance will be key, Siwisa-Damasane said.
The country’s power utility is struggling to meet demand and has forecast a high probability of scheduled power cuts on most work days until the end of April.
In the event of rolling blackouts, which the terminal does not anticipate, “we’ve also made some provisions to operate at a reduced capacity if needed,” Siwisa-Damasane said.
RBCT handles coal from mines owned by companies including Glencore Xstrata, Anglo American and BHP Billiton. The facility has capacity to ship 91m tons annually.
South Africa is the seventh-biggest producer of the fuel globally, according to the World Coal Association’s website. Eskom uses it to meet about 85 percent of its generation needs. South Africa exports coal to Europe, China and India. Prices of the fuel have fallen 30 percent since the start of 2014 and were at $59.65 (R691) a ton on Monday.
The terminal handled 9 104 trains last year, or about 27 daily, and loaded 786 vessels, Siwisa-Damasane said.
Bloomberg