The 2016 Port of Newcastle export figures highlight the strong global demand for NSW coal, with a new monthly coal export record of 15.9 million t achieved in December.
"The 161 million t of coal exported through the Port of Newcastle confirms the strong global demand for NSW coal, particularly our high quality thermal coal from the Hunter. Coal is our State's most valuable export so It's good news for the NSW economy as well as being great news for the Hunter,” NSW Minerals Council CEO, Stephen Galilee said today.
In its most recent report, the independent International Energy Agency (IEA) has forecast an increase in Asian demand for Australian coal - a rise of 0.8% year on year. Indian and South East Asian demand is forecast to grow by 3.6% and 4.4% yearly.
“In the same report, our coal exports are forecast to increase from 350 t to 410 t by 2040 and Australia’s share of the international coal trade is expected to grow from 32% to 36%,” Mr Galilee said.
“Many of our trading partners in Asia are building more and more new technology coal-fired power plants so this high level of demand for NSW coal is anticipated to continue for many years to come," he said.
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/19012017/demand-for-nsw-coal-has-increased-according-to-port-of-newcastle-export-figures/