Coal & Allied Sees Japan Demand Falling After Earthquake
13 4월 2011 - 12:51PM
Dow Jones News
Thermal coal demand from Japanese power stations will be subdued
over the next six to 12 months and coal vessels are being
rescheduled to manage supply, Australia's largest thermal coal
producer, Coal & Allied Industries Ltd. (CNA.AU), said
Wednesday.
In a first-quarter production report, the miner said any fall in
demand from Japan will be made up by consumers elsewhere in
Asia.
"The devastating impacts of the earthquake and tsunami in Japan
have impacted coal-fired power stations and general industry north
of Tokyo and on the country's east coast. Some of our customers
have been affected and we continue to work with those customers to
reschedule vessels and to help manage supply in the future," the
miner said in a statement.
The miner said that its share of first-quarter coal production
rose 9.8% on year, to 4.6 million tons from 4.2 million tons, while
its share of sales climbed 22% to 4.8 million tons from 3.9 million
tons.
However, rainfall in northern New South Wales state in recent
months and mining problems meant that attributable production fell
18% on the previous quarter, when 5.7 million tons were mined,
while sales dropped 11.7% from 5.4 million tons the previous
quarter.
The company said full-year saleable production would be
maintained around 5%-10% above the 2010 level, when 18.8 million
tons was produced.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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