Spot Falls on Weak Summer Demand, More Wind Generation

Posted by Michelle Howard
Monday, July 07, 2014
  • Wind generation forecast to rise to 5.7 gigawatts
  • Cal '15 prices fall
  • Russian gas flows via Ukraine stable on Monday


Weaker demand during the summer holidays and forecasts for increasing wind generation in the region pushed Central European spot power prices lower on Monday, traders said.

On regional exchanges, electricity for Tuesday delivery fell 3 percent to 36.27 euros ($49.47) per megawatt hour in the Czech Republic and Slovakia and declined a little more than 3 percent to 44.39 euros in Hungary where planned outages and weaker Balkan demand have kept prices at a regional premium.

Data from Thomson Reuters Point Carbon showed forecasts for wind generation in Germany rising nearly 2 gigawatts to 5.7 GW for Tuesday with solar production at just under 4 GW.

Further along the curve, the Czech front month fell 35 cents to 30.70 euros and Hungarian electricity for August declined 25 cents to 45.60 euros.

On the Prague-based Power Exchange Central Europe dipped 10 cents to 33.65 euros and the Hungarian Cal '15 shed 15 cents to 43 euros.

Around the region, the benchmark German Cal '15 decreased 1 cent to 34.30 euros on Germany's EEX exchange in afternoon trade. Day-ahead on Poland's POLPX exchange fell to 190.25 zlotys ($62.45) from 229.59 zlotys.

Russia's Gazprom said on Monday Russian gas flows to Europe via Ukraine remained stable.

All construction timelines for the South Stream pipeline are on track and the European Union should restart talks about the project, Russian Foreign Minister Sergei Lavrov said on a visit to Bulgaria.

Brent crude oil steadied under $111 a barrel, just above a three-week low, as Libya geared up to resume oil exports from two ports closed for nearly a year.

European Union carbon futures fell 1.8 percent to 5.59 euros in afternoon trading.

($1 = 0.7331 Euros) ($1 = 3.0462 Polish Zlotys)

(Reporting by Michael Kahn; Editing by David Evans)

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

UN: Ship Inspections near Somalia for Arms, Charcoal

The United Nations Security Council authorized the inspection of boats suspected of carrying illegal shipments of charcoal or weapons to and from Somalia on Friday,

UN Authorizes Ship Inspections Near Somalia For Arms, Charcoal

The United Nations Security Council authorized the inspection of boats suspected of carrying illegal shipments of charcoal or weapons to and from Somalia on Friday,

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

Environmental

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

Ecoships Claims 15% Ship Efficiency Gain

Ecoships introduced a customized version of the Six Sigma DMAIC approach to process and performance evaluation in order to optimize the energy-efficiency of the vessels under its management.

IBIA Welcomes MEPC Bunker Compromise

The compromise solution on the issue of ensuring bunker quality agreed at the 67th meeting of the IMO’s Marine Environment Protection Committee (MEPC 67) has been

Energy

MARAD Seeks Comments on Proposed Policy for Deepwater Export Applications

The Maritime Administration (MARAD) is seeking comments on the agency’s proposed policy to accept, evaluate and process license applications for the construction

Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Fuels & Lubes

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

UASC Targets Expansion to Beat Container Market Blues

UASC expects to reach volume of 2.35 mln TEU in 2014 Global carriers still struggling with weak conditions United Arab Shipping Company (UASC) is on a major expansion drive,

News

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

UN Authorizes Ship Inspections Near Somalia For Arms, Charcoal

The United Nations Security Council authorized the inspection of boats suspected of carrying illegal shipments of charcoal or weapons to and from Somalia on Friday,

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Government Update

MARAD Seeks Comments on Proposed Policy for Deepwater Export Applications

The Maritime Administration (MARAD) is seeking comments on the agency’s proposed policy to accept, evaluate and process license applications for the construction

Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope

UN: Ship Inspections near Somalia for Arms, Charcoal

The United Nations Security Council authorized the inspection of boats suspected of carrying illegal shipments of charcoal or weapons to and from Somalia on Friday,

Wind Power

Tuco Debuts New Wind Farm Service Boat

Less than a week before the Offshore Energy 2014 Exhibition and Conference in Amsterdam the coming week, Tuco Marine disclosed the newest vessel in the ProZero series of Fast Rescue Boats,

Autonomous Technology for Offshore Wind Farm

ASV Ltd in association with Planet Ocean Ltd, have received funding from the GROW:OffshoreWind initiative to investigate how the use of Autonomous Surface Vehicles

A2SEA Signs for Dudgeon

Dudgeon Offshore Wind Limited has awarded the Charter for WTG transport and installation to A2SEA A/S. A2SEA shall provide the jack-up vessel Sea Installer

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1500 sec (7 req/sec)