Australian coal exports up in June
Australia's coal exports rose 10.1 million metric tons in June, as more demand from steel-making countries Brazil and India raises demand, according to data posted on the North Queensland Bulk Ports Corp.'s website.
Rio Tinto Group, Xstrata Plc, BHP Billiton Ltd. and Peabody Energy Corp are among mining companies that shipped to key destinations India, Brazil, and China in June.
Hay Point port, about 1,000 kilometers (620 miles) north of Brisbane in Queensland state, has the capacity to export 129 million metric tons a year.
Exports from Dalrymple Bay, which ships 80 percent of its coal to steelmakers world-wide, reached 6.1 million tonnes in June. The terminal, which has the capacity to export 85 million tonnes, shipped 63.1 million tons in the 12 months ended June 30.
According to Deutsche Bank AG, Brazil and India should drive long- term demand for steel-making coal because of a lack of domestic supply.