Coal Prices Lower on Sluggish Demand

Posted by Michelle Howard
Monday, April 07, 2014

European physical coal prices were lower on Monday afternoon on sluggish demand and as continuing over-supply weighed on prices.

Cargoes for delivery in May to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were valued at around $73.20 a tonne, almost $4 lower than the previous settlement on Friday.

ARA coal for June delivery was valued around $75.65 a tonne, slightly below its previous settlement on March 25 of $76.00.

"Buying has been patchy of late - there isn't much demand," one coal trader said.

The API2 2015 coal futures contract saw bids of $79.65 a tonne, below Friday's settlement price of $79.91.

Analysts said the market was eyeing a psychological support level of $80 a tonne but there were no clear drivers which would push prices up.

"Downside could come from the front of the curve as Drummond direct loading appears to be working," analyst at Thomson Reuters Point Carbon said.

U.S. coal miner Drummond Inc. has resumed exports of coal from Colombia after stopping in January due to environmental legislation, adding to a market which is already over-supplied.

Drummond had to construct a legally-compliant infrastructure which poured coal straight into ships' holds from a covered conveyor belt, doing away with the now-banned use of cranes and barges that caused pollution.

Meanwhile, Britain's National Grid said on Monday utilities were likely to burn more coal than gas in Britain this summer due to low demand for gas and low coal and carbon prices.

(Reporting by Nina Chestney, editing by David Evans)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Jinhui Shipping Plummets to Loss

Norway listed dry bulk shipper Jinhui Shipping said the tough market that owners faced last year will become tougher in 2015.   Dry bulk shipping market Environment

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

“Jag Arjun” Delivered to Buyers

The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1996-built Capesize Dry Bulk Carrier “Jag Arjun” (164,796 dwt) to the buyers on 26th February, 2015.

Ports

Container Ship Runs Aground at Fremantle Port

A ship that ran aground at Fremantle Port early Saturday has been refloated. The 62,000-tonne Denmark-registered container ship Maersk Garonne became stuck in soft sand about 500m off South Mole.

Chassis Pools for Port of Long Beach

Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1,

More Floating Accommodation for Lerwick

An accommodation ship, the SNAV Toscana is due at Lerwick on or around 6 March 2015 to supplement the floating accommodation at the port. Formerly operated as an Italian ferry,

Finance

Jinhui Shipping Plummets to Loss

Norway listed dry bulk shipper Jinhui Shipping said the tough market that owners faced last year will become tougher in 2015.   Dry bulk shipping market Environment

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Energy

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

News

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators 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: 0.1284 sec (8 req/sec)