Demand for NSW coal strong
NSW coal exports continue to grow Coal remains NSW’s number one export commodity, with new data showing that coal exports continue to grow, defying predictions from some that demand for NSW coal is falling.
Data released by Coal Services Pty Ltd reveals that coal exports for the current financial year are up nearly 5%, from 127 million tonnes in 201314 to 133 million tonnes in 2014-15. Exports of NSW coal to Korea are up 8%, while exports to Taiwan have risen by 21% and across the rest of Asia outside of Japan and China, exports have more than doubled to 15.6 million tonnes over the last nine months.
Falls in export volume to China and Japan were more than offset by growth in other markets, including an encouraging more than doubling of exports to India in the current financial year.
Japan continues to be the biggest market for NSW coal comprising 40% of total exports, followed by China at 18%, Korea with 17% and Taiwan at 11%.
“It’s good for the NSW economy that coal exports are growing steadily across our main international markets,” NSW Minerals Council CEO Stephen Galilee said. “Coal remains vital to the NSW economy. It’s our most valuable export, and the NSW coal industry employs 35,000 people across the state,” “The NSW mining industry has been doing it tough recently, with over 5000 jobs lost across the last two years.
It’s therefore encouraging to see strong demand for NSW coal across our emerging markets,” Mr Galilee said. “Ongoing export demand indicates solid long term prospects for our state’s coal sector, provided we get the policy settings right here in NSW,” Mr Galilee said.