Australian exports increase as China and India buy more coal
Thermal coal exports from Australia are expected to see a 6% rise in 2013/14 to 192 million t, according to the latest report from the Bureau of Resources and Energy Economics (BREE).
Over the medium term, Australia’s thermal coal exports are projected to increase at an average rate of 8% a year, to 271 million t in 2018. In its latest quarterly update, BREE also forecast a 17% rise in Australian iron exports in the 2013/14 period, largely thanks to the start up of recently completed projects, such as Rio Tinto and Mitsubishi’s Hunter Valley Operations Expansion, BHP Billiton’s Mount Arthur project and the development at Whitehaven Coal’s Narrabri Coal Project.
A more modest rise in metallurgical coal exports in 2013/14 to 160 million tonnes from 154 million the previous year, was also forecast.
The growth is expected to be supported by increased demand for exports from China in the short term and then from India later in the outlook period. By 2018, both China and India are expected to overtake Japan to become the top two export destinations for Australian thermal coal.
Edited from various sources by Katie Woodward
Read the article online at: https://www.worldcoal.com/coal/02102013/australian_exports_increase_as_china_and_india_buy_more_coal_89/
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