Newcastle Coal Exports Rise 22%; Queue of Ships at 1-Year High

By Dinakar Sethuraman

Dec. 22 (Bloomberg) -- Coal exports from Australia's Newcastle, the world's biggest export harbor for the fuel, climbed 22 percent last week while the number of ships waiting outside the port was the highest in a year.

The volume shipped in the week ended 7 a.m. local time yesterday rose to 2.09 million metric tons from 1.71 million tons a week earlier, Newcastle Port Corp. said today on its Web site. A total of 45 ships, waiting to load 3.84 million tons of coal, were lined up outside the port, unchanged from last week. Read more...