Coal exports out of Hampton Roads, Virginia, fell in May.
The port’s three terminals handled a little over 2.9mn short tons (2.63mn metric tonnes) of coal last month, down from 3.75mn st a year earlier, the Virginia Maritime Association said.
The decrease follows a slump in metallurgical coal markets from the middle of March through early May and limited spot trading. Thermal coal prices also extended declines.
The Virginia Maritime Association does not break out exports by coal type. In the first four months of this year, metallurgical coal made up 88pc of the coal shipped from Norfolk, Virginia, according to US Census Bureau data.
Coking coal prices have been resilient relative to thermal coal, but still have declined. Prompt three-month exports of US high-volatile type A coal averaged $197.86/t fob Hampton Roads in April and $197.45/t in May, compared with $211/t at the start of the year.
By comparison, the midpoint for the high-low range of 6,000 kcal/kg thermal coal slid to an average $74.44/t fob Hampton Roads in April and $70.29/t in May from $93.05/t at the very start of the year.
Each terminal handled less coal last month than it had in May 2018. Shipments out of Norfolk Southern’s Lamberts Point fell to 1.31mn st from 1.64mn st, while exports from Arch Coal and Contura Energy’s Dominion Terminal Associates dropped to 858,144st from 1.31mn st.
Kinder Morgan’s Pier IX handled 737,633st, compared with 804,228st a year earlier.
- On June 25, 2019