Transnet eyes Richards Bay port for new liquefied gas hub
Moves are afoot for a new multi-billion-rand liquefied natural gas (LNG) storage and regasification terminal to be established at the port of Richards Bay by 2024, but state-owned Transnet wants the private sector to be the main investor and operator of the facility. The plan was revealed on Tuesday as Transnet announced the signing of a cost-sharing agreement with the World Bank’s International Finance Corporation (IFC) to jointly fund a feasibility study into the terminal project. The IFC has committed $2 million (around R28 million) as part of the cost-sharing agreement. The move comes as Transnet looks to bolster South Africa’s LNG infrastructure, both at the country’s ports and within its pipelines business.
Vessel queue at South Africa’s Richards Bay Coal Terminal falls
Fifteen ships were queuing at the Richards Bay Coal Terminal in South Africa Wednesday, down slightly from 17 two weeks earlier, according to cFlow, S&P Global Platts trade flow software. The reduction of the queue is understood to be caused by an easing of supply tightness which had been in place for the last few months, although sources said the current situation was not having much direct impact on prices. “Nothing seems seriously delayed” a sell side source said. Stocks at the terminal were heard to be around 4 million-4.3 million mt, having been below the 4 million mt level for most of May.
Vessel queue at South Africa Richards Bay Coal Terminal up on week
Twenty-one ships were delayed at the Richards Bay Coal terminal in South Africa Wednesday, up from 12 last week, according to cFlow, Platts trade flow software. Delays had been easing the last two weeks as adverse weather conditions in the area subsided, but high wind and swells reduced the operating schedule of the port and caused the number of delayed ships almost to double. As well as the weather, increased shipping from the terminal in the last few weeks had contributed to the vessel build-up, sources said. Ten ships were returning from India, Pakistan, or Bangladesh, three from China, South Korea, and Singapore, and eight from Mozambique, Kenya, or other ports in South Africa. Four ships were moored at loading terminals and berths. The average deadweight tonnage of the delayed ships was 76,491 mt. Market sources estimate around 3.8 million mt of coal in stockpiles at RBCT Wednesday, having been around 4.5 million mt two weeks earlier. Source: PlattsUpload News