According to data from the Prince Rupert Port Authority, last month’s exports totalled 830,659, down 4.4% from April and down a massive 40.3% from May 2013.

The sharp decrease can be attributed to the consistent weakness in Pacific coal prices of late.

Platts assessed the price for hard coking coal freight on board Australia at $C113 ($A110) per tonne.

Current prices are 70% lower than the $378/t high in January 2011.

The drop in metallurgical coal pricing is largely due to an influx of supply from Australia and Canadian prices are likely to drop even lower given that many mines have lowered production.

Ridley Terminals predominantly exports met coal from Canadian producers but also exports some thermal coal, including Powder River Basin coal from the US.

Met coal exports in May were 344,203t, a drop of 37.4% from the previous month and down 58.8% from the same month a year ago.

Meanwhile, petroleum coke exports reached 75,752t, a dive of 45.7% from the prior month and down 74.6% from May 2013.

Thermal coal exports were the only saving grace totalling 410,704t in May, up 128.2% from April and up 59.6% on last year.