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)


Ports

Indian Warships Visit Port Victoria

In a demonstration of India’s commitment to its ties with Seychelles and maritime security in the Indian Ocean Region, Indian Naval Ships Kolkata, Trikand and

Vitol's Malaysia Terminal Suspends Ops after Spill

VTTI, the storage unit of world's largest oil trader Vitol, has suspended operations at its terminal in southern Malaysia following an oil spill, two industry sources said on Friday.

Shenzhen Port to Adopt China ECA Regulation

China's Shenzhen port is set to to adopt requirements for ships at berth requiring to burn marine fuel with sulfur content not exceeding 0.5 percent starting October this year,

Finance

SOS from Hanjin Shipping

The creditors' extended help is crucial for survival of Hanjin Shipping Co as its negotiations with owners of chartered ships over a cut in leasing rates and to

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

Skaugen Goes to Red Again

Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities

Energy

Keppel to Deliver First North Sea FPSO

Keppel Offshore & Marine (Keppel O&M)'s wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

ABS Makes it Safer to ‘Walk to Work’

ABS announced the publication of The ABS Guide for Certification of Offshore Access Gangways. The new Guide addresses certification for safety systems used for “walk to work” (W2W) crew transfers.

News

Coast Guard Foundation Awarded 128 Scholarships

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Keppel to Deliver First North Sea FPSO

Keppel Offshore & Marine (Keppel O&M)'s wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading

NASA May Send Submarine to Titan

NASA has unveiled plans to send a submarine into the depths of the largest ocean of Saturn's biggest moon, Titan in a bid to explore the depths of its largest ocean.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Winch
rss | archive | history | articles | privacy | 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: 0.1000 sec (10 req/sec)