fired up transnet boosts coal exports

Fired-up Transnet boosts coal exports

Reuters | 02 December, 2011 00:43

Coal exports in the fourth quarter have surged to a projected 21million tons, only slightly less than the entire first half, due to improved performance by rail operator Transnet, exporter and transport sources said.

Annualised, the figures are equivalent to 84million tons a year, 20million tons more than 2010, a level which reflects the actual export capacity of Richards Bay Coal Terminal.

The bottleneck in South African exports over the past years has been rail rather than mine or port capacity.

South Africa exported 7.4million tons in October from Richards Bay, 5.2million in November and will ship 6.2million this month.

"Transnet didn't have the best start to the year. First-half exports suggested a total figure of less than 55million for the year as a whole but they have exceeded everybody's expectations in the past few months," one exporter said.

"We caught some of the producers off-guard. Some of the guys weren't prepared but they've caught up now," one rail source said.

In October, Transnet CEO Brian Molefe said it was exploring options to move more coal to other ports to ensure more shipments go out.

Transnet last month began shifting to a scheduled railway service instead of having trains depart only when loaded.

http://www.timeslive.co.za/thetimes/2011/12/02/fired-up-transnet-boosts-coal-exports