LONDON, April 11 (Reuters) – A Pakistani importer last week
bought the country’s first cargo of U.S. high-sulphur thermal
coal, as end-users sought the best value coal origins beyond
their usual South African and Indonesian material, the buyer
said on Wednesday.
The 50,000 tonne cargo of 2.5 percent sulphur and 6,200
kc/kg Net As Received energy content coal was sold by a trader
to the importing firm at around $121.00 a tonne CIF.
“The cargo will be partly discharged in Dubai, to offload
around 10,000-12,000 tonnes and then continue to Pakistan, this
saves money on the freight which works out at around $23 (a
tonne),” the buyer said.
“Overall, U.S. coal is now cheaper than Indonesian for the
Pakistan market,” he added.
A glut of U.S. coal, unwanted by the shrinking domestic
market, has been flooding out as exports all over the world,
primarily to Europe but increasingly this year, to Asia.
(Reporting by Jacqueline Cowhig; editing by Keiron Henderson)
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