US coal exports fall 3%; India is top met coal destination: CAS

A divergence between the two coal segments defined the week ended Sept. 27, as US metallurgical coal shipments climbed while thermal coal volumes retreated sharply, leaving overall exports down 3% to 2,028,124 metric tons, from 2,086,231 mt the week ended Sept. 20, according to Sept. 29 S&P Global Commodities at Sea data.

Metallurgical coal shipments rose 23.63% week on week to 1,091,574 mt, uplifted by India's sudden emergence as the top buyer, while thermal coal shipments fell 22.17% to 936,550 mt, as several destinations that had driven the prior week's volumes went quiet.

Platts assessed FOB Baltimore 6,900 kcal/kilogram NAR coal at $97/mt on Sept. 29, unchanged from the previous session. In the Gulf Coast, FOB New Orleans 6,000 kcal/kg NAR held at $92/mt, also unchanged.

The two segments moved in opposite directions on buyer concentration: metallurgical coal spread across a wider set of destinations even as total volumes rose, while thermal coal narrowed sharply around fewer buyers even as total volumes fell.

India, Netherlands take top spots

India's emergence as a metallurgical coal buyer drove much of that shift, taking no US met coal the prior week before becoming the top destination at 340,839 mt. Brazil, last week's leader, slipped to second at 180,635 mt, down 49% from 354,785 mt, while Japan entered the ranking in third at 157,529 mt. The Netherlands rounded out the top four at 106,614 mt, down 56% from 241,159 mt.

Germany and Finland both entered the destination list, at 80,387 mt and 62,329 mt, respectively, while France edged higher to 55,624 mt from 52,184 mt. Turkey's intake fell sharply to 48,517 mt from 192,174 mt, while Italy and Canada rounded out the list as new destinations at 31,194 mt and 27,906 mt, respectively. Argentina, which took 42,634 mt the prior week, recorded no met coal volumes.

Thermal

Thermal coal told the opposite story. The Netherlands leaped to the top of the destination list at 346,597 mt, more than four times the 85,295 mt it received the prior week. Morocco followed at 229,907 mt, up 53% from 149,941 mt, while India, last week's top thermal buyer, fell to third at 187,737 mt, down 55% from 417,706 mt. Japan entered the ranking at 77,494 mt, and Canada took fifth at 64,534 mt, down from 93,092 mt. Peru also appeared for the first time, at 30,281 mt.

Spain, Chile, Thailand, Egypt, Guatemala, Togo, and the Dominican Republic — all active thermal destinations the prior week — recorded no shipments in the latest period.

Baltimore remained the top thermal coal loading port despite a steep drop to 376,953 mt from 601,550 mt. The Port of South Louisiana followed at 298,507 mt, up from 276,478 mt, while Long Beach re-entered the rankings at 116,775 mt. Hampton Roads loaded 79,763 mt, up from 75,117 mt, and New Orleans and Richmond, California, both new to the list, loaded 34,271 mt and 30,281 mt. Plaquemines and Greater Baton Rouge, both active the prior week, recorded no thermal loadings.

Shipper rankings shift across both segments

Hampton Roads led metallurgical coal loadings at 694,493 mt, up from 605,712 mt, ahead of Mobile at 248,503 mt, down from 277,224 mt. Baltimore and Toledo both entered the metallurgical loading rotation, at 120,672 mt and 27,906 mt, respectively.

Javelin led metallurgical coal shippers at 280,271 mt, up sharply from 54,746 mt, followed by Alpha at 260,863 mt, up from 178,636 mt, and undisclosed shippers at 198,935 mt, up from 25,425 mt. Robindale entered the rankings at 78,547 mt, while Integrity eased to 65,989 mt from 77,859 mt. WMC, last week's top shipper, fell sharply to 60,411 mt from 222,478 mt, and Core Natural Resources slipped to 58,459 mt from 79,712 mt. Ramaco entered at 49,889 mt, Pocahontas rose to 27,812 mt from 25,675 mt, and Coronado dropped to 10,398 mt from 80,421 mt. Blackhawk, Argos Resources, and CME, all active the prior week, recorded no met coal shipments.

On the thermal side, Suncoke Energy topped the shipper rankings at 298,507 mt, up from 214,144 mt, followed by Core Natural Resources at 226,826 mt, up from 112,394 mt, and undisclosed shippers at 181,327 mt, down sharply from 514,141 mt. Javelin and Jera both entered the thermal rankings for the first time, at 150,127 mt and 79,763 mt. Consol, the second-largest thermal shipper the prior week at 362,616 mt, recorded no shipments in the latest period, the CAS data showed.

Platts is part of S&P Global Energy.