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The shipping queue at Australia's Newcastle port -- an indicator of demand for coal exports -- jumped to 40 ships this week from 30 ships a week ago as the port's rail system shut Tuesday for three days of routine maintenance, the port authority of New South Wales said Tuesday.
It said 40 ships were on their way to Newcastle port to load coal exports in the next seven days at its three terminals -- the BHP Billiton-operated Newcastle Coal Infrastructure Group facility and the two Port Waratah Coal Services terminals.
The shipping queue is the longest since the start of June and may indicate that power station customers in Asia have started another restocking cycle for the Northern Hemisphere's summer months.
Another six ships were waiting off the coast of Newcastle port for a berthing slot, and six ships were already in the port taking on coal export cargoes.
This article first appeared on www.platts.com
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