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Newcastle Coal Exports Rise; Queue of Ships Lengthens

Dec. 7 (Bloomberg) -- Coal shipments from Australia’s Newcastle, the world’s biggest export harbor for the power-station fuel, rose 16 percent last week while the queue of vessels waiting to load lengthened.

The volume of the commodity exported in the week ended 7 a.m. local time yesterday climbed to 2.07 million metric tons from 1.78 million tons in the preceding period, Newcastle Port Corp. said on its website today.

Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship the fuel from the harbor, which has three export terminals. Fourteen vessels were outside the port, up from 13 a week earlier, while the waiting period averaged 12.32 days, compared with 12.5, the report said.

Power-station coal prices at Newcastle, an Asian benchmark, increased 5.2 percent, according to the globalCOAL NEWC Index website. Prices advanced to $111.24 a ton in the week ended Dec. 3, from $105.77 in the previous period.

To contact the reporter on this story: Ben Sharples in Canberra at bsharples@bloomberg.net

To contact the editor responsible for this story: Clyde Russell at crussell7@bloomberg.net

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