TRADE through the Port of Newcastle increased slightly in December, compared with the same month in 2021. However, the value of trade increased a significant amount over the period.

Total trade volume last month was 13.88 million tonnes. This was an increase of 2.6% on December 2021.

However, the total value of trade through the port increased 119% over the period to $8 billion in December 2022 from $3.7 billion in the same month in 2021.

This increase can largely be explained through a colossal leap in the value of coal exports from the port. In December 2021, coal exports were worth $2.7 million (for 12.6 billion tonnes) . Last month, the value of coal exports exploded to $7.3 billion (for 13.2 billion tonnes) – an increase of 168%.

Month-to month increases

December’s total trade volume was an increase of 37% on the previous month, when a total of 10 million tonnes of cargo crossed the wharves at Newcastle.

This increase was driven by a big uptick in coal export volumes. In December, 13.2 million tonnes of coal were loaded onto ships, up from 9.4 million tonnes in November 2022.

Wheat exports also saw a jump between November and December. Last month 205,797 tonnes of wheat was exported from the port, an increase of 59% on November’s volume (129,492 tonnes).

Vessel visits also increased in December, from 158 (113 coal vessels, 45 non-coal) in November to 202 (156 coal vessels, 40 non-coal and four cruise).