RBCT expected to clear backlog by end of March

Published Feb 10, 2014

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RBCT expected to clear backlog by end of March

Richards Bay coal terminal was expected to clear the export backlog by the end of March after a week-long power failure that cut shipments worth about R200 million a day, terminal operator RBCT said yesterday. Power supply came to a halt on January 31 after a cable defect at the operator’s substation. This resulted in stoppage of all coal exports. RBCT said about five vessels were berthed and 23 anchored off the port yesterday. It takes between 24 hours and 36 hours to load one vessel. The terminal exported 4.6 million tons of coal in January compared with 6.8 million tons the previous month. It had 3.8 million tons of stock at the end of January, RBCT’s data showed on Friday. “Power was restored at 6am as promised… From the municipality’s side we have handed the cable back to RBCT,” municipal spokesman Vukile Mathabela said. RBCT finance general manager Alan Waller said the disruption was catastrophic. “We are losing about R200m a day in exports; that’s not taking into account other costs in the value chain.” He said the operator might face daily penalties estimated at $20 000 (R221 000) a ship. – Nompumelelo Magwaza

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