The closure of several unprofitable Spanish coal mines is helping to boost tonne miles in the dry bulk sector, new data shows.
Spanish coal imports increased 12% year on year to 1.5 million tonnes in January, Platts reported, quoting data published by Spanish customs.
Spanish coal imports rebounded in January following an 18% drop in 2018.
The main increase in imports was reportedly from Indonesia, with volumes nearly doubling to 642,000 tonnes, the data showed.
At the same time, Platts reported there were increases from Australia, of 27% year on year to 340,000 tonnes, and South Africa, of 10% to 168,000 tonnes.
Indonesia was Spain’s largest single supplier in 2018, with 4.5 million tonnes delivered, up 5.5% from 2017, followed by Russia, down 27% year on year to 3.6 million tonnes.
Platts reported that Spain closed 26 coal mines at the beginning of January 2019. They had been running at a loss but had received state support.
Spain is also due to close nine of its 15 coal-fired plants by next year, with the continuing plants almost completely fuelled by imported coal.
