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SA bulk exports rose by 3.41% y/y in June to 12.8 million tons
SA's bulk export volumes rose by 3.4% year-on-year (y/y) in June to 12.8 million tons (Mt), after rising by 6.2% y/y in April to the second highest monthly total of 16.2 million tons (Mt), data from the Transnet National Ports Authority (TNPA) showed on Friday. The record monthly tonnage of 16.4 Mt was achieved in January 2015.
Port of Durban
The June and April y/y increases were the only two y/y rises in the first six months of 2016 after declines of 6.1%, 11.7%, 15.7% and 12.2% in May, March, February and January respectively. This followed a 7.3% increase in 2015 to a record annual tonnage of 168 Mt. Despite the June and April y/y increases, total bulk exports are still down 6.2% y/y in the first six months of 2016.
Bulk exports out of Richards Bay, which is mostly coal, rose by 9.2% y/y in June to 6.9 Mt after growing by 8.2% in 2015 to 93 Mt. As Richards Bay Coal Terminal (RBCT) no longer releases operational statistics, economists are finding it more difficult to track economic performance in SA in a timeous manner.
Despite the 40% plunge in the iron ore price in 2015, bulk exports out of Saldanha, which is mostly iron ore, increased by 12.7% in 2015 to 63.4 Mt, but in June 2016 there was a 9.6% y/y fall to 4.7 Mt. If Saldanha exports are excluded, then total bulk exports would have grown by 12.7% y/y in June.
The surprise in the June data was the 39.0% y/y rise in bulk exports from other ports such as Durban to 1,185,481 tons after falling by 19.3% in 2015 to 11.6 Mt.
Source: BDpro
Source: I-Net Bridge
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