Coal Import Price via Guangxi’s Ports Soars in First Five Months

The coal imports via Guangxi Zhuang Autonomous Region’s ports totaled 6.878mt in the first five months of this year increasing by 20.9% year-on-year but with the growth rate dropping by 38.1 percentage points, announced the Ministry of Commerce on June 17th. In terms of the coal import value and price, they rose by 2.1 times and 77.4% respectively over the previous year to US$ 370M and US$ 54.5/t.

Guangxi’s ports imported coal mainly from Vietnam, which accounted for 2.5% more of the total volume than last year, namely 84% or 5.777mt. In the same period, the coal imports from Indonesia also surged from 55,000t in the first five months of 2007 to 1.049mt (Berau Shipped 58,210 mt to CLP Guangxi early June 08). Finally, Guangxi also started importing coal from Australia, which made up 52,000t of the total.

The significant rise in the coal import price is mainly attributed to the hiking international crude oil price that causes increasing demand for coal on the international market, to the restriction of coal exports by large coal exporting countries, such as Vietnam, as well as to the increase in international shipping freight that has resulted in the steam coal price hike.

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