Reuters Australia's Newcastle coal exports steady, queues up

PERTH, Oct 27 (Reuters) - Coal exports at Australia's
Newcastle port, the world's largest coal export terminal, were
little changed in the latest week, while ship queues rose from
a one-year low.

Exports from the eastern coast port, which ships mostly
thermal coal used in power generation, slipped 0.3 percent to
1.92 million tonnes in the week to Oct. 26, port data showed on
Tuesday.

The number of coal ships queuing off the port rose to 19,
after having fallen to a one-year low of 16 last week, while
the average waiting time for ships to load coal fell to 6.1
days.

Producer sources said the recent low queue numbers were
largely a result of fluctuation in the vessel arrival pattern
and less to do with any drop in demand.

The number of coal vessels arriving at the port, a key
indicator of demand, rose by three to 25.

For more on the port statistics, click on .

About 80 percent of the coal shipped through Newcastle is
thermal coal used mainly by power stations. Companies exporting
through the port include Xstrata Plc (XTA.L), Rio Tinto Group
(RIO.AX) (RIO.L) and Centennial Coal Ltd (CEY.AX).

Prices of power-station coal at Newcastle port, a benchmark
for Asia, gained 1.5 percent to $73.13 a tonne in the latest
week, according to the globalCOAL NEWC Index.