Coal Prices Jump on Russian Gas Cutoff Fears

MarineLink.com
Monday, March 03, 2014

Reuters - European physical coal prices rose on Monday along with gains in gas, power and crude oil markets across the region, reflecting escalating tensions between Russia and Ukraine.

Cargos for delivery in April to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were trading at $74.25 a tonne at 1720 GMT, up $0.25 from the previous settlement.

Physical cargos for May delivery jumped $0.60 to $74.40 per metric ton.

In the futures market, API2 coal contracts for delivery in 2015 edged up $1.49 to $82.10 a metric ton.

Commodity prices rose on fears that a standoff between Russia and Ukraine could disrupt the shipment of gas from Europe's biggest supplier.

Gas supply fears rose this weekend when Russian forces took control of Ukraine's Crimea region and President Vladimir Putin said he had the right to invade his neighbor to protect Russians there after the overthrow of ally Viktor Yanukovich.

Tensions between Russia and Ukraine gave coal prices an unexpected lift after a sustained period of declines due to global oversupply.

Supply is expected to rise further in April as coal miner Drummond restarts its exports from Colombia.

Drummond halted the shipments pending installation of automated ship loading facilities, which were required by a law that came into force in January.

(Reporting by Oleg Vukmanovic; editing by Jane Baird)

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

Energy

Pine Galaxy Expected to Arrive in San Francisco Today

The disabled mixed-products tanker Pine Galaxy is expected to arrive in San Francisco Wednesday morning. The ship is being towed by commercial tug to San Francisco Bay.

RWE Dea Starts Gas Production in Egypt

RWE Dea achieved first production from the Central Treatment Plant (CTP) of the Disouq Development Project in Egypt. Production commenced at an initial rate

Persistence Pays Off For First Female Dragline Trainee Operator

Marianne Finch may only be a rookie at the controls of Dragline 13 but as Saraji’s first female Dragline Trainee, she has a strong message for her female colleagues

News

COSCO Resorts to Rate Restoration for F. East to S Africa Trade

COSCO Container Lines would like to announce Rate Restoration for all shipments (include reefer cargo) from Far East to South Africa Trade and take effect from September 1, 2014.

Anchorage Area Obstruction in Freeport

Brazos Pilots Association in Freeport, Texas, advise that a 600-700' long wire is presenting a hazard to vessels in the north Freeport general anchorage. According to advice from the Association,

Neeraj Bansal Appointed Deputy Chairman of JNPT

The Government of India has appointed Neeraj Bansal as Deputy Chairman of India's largest container port,  Jawaharlal Nehru Port Trust with immediate effect. Mr

Logistics

Port of Long Beach Chooses APS Crane OCR System

APS Technology Group, a member of the ABB Group and a leading provider of optical character recognition (OCR) and process automation technology solutions for marine and intermodal container terminals,

CEVA Expanding Presence in Southern California

CEVA Logistics, one of the world’s leading supply chain management companies, today announced plans to expand its presence in the San Diego market with a new

Crane Operator Alert: Certification Requirement

Although OSHA Stakeholders have voted to extend the final deadline in four different meetings, the deadline has not been officially extended by US Government agency OSHA as of yet,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Repair Winch
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: 0.2376 sec (4 req/sec)