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 August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Greek Warship Evacuates Libya Personnel

Greece safely evacuated embassy staff and more than one hundred Chinese and European nationals from Libya early on Friday with a navy frigate sailing back to the Greek port of Piraeus,

“K” Line and Ports America Deal on Strategic Partnership

KAWASAKI KISEN KAISHA, LTD. (“K” Line) is pleased to announce that “K” Line and Ports America have agreed to form a strategic partnership aimed at enhancing

1H 2014 Profits of Port of Tallinn Up 16%

Port of Tallinn earned an unaudited half-year net profit of 20.2 million euros with company’s turnover reaching 59 million euros. Compared to last year the turnover

Finance

1H 2014 Profits of Port of Tallinn Up 16%

Port of Tallinn earned an unaudited half-year net profit of 20.2 million euros with company’s turnover reaching 59 million euros. Compared to last year the turnover

Geo-Science Provider TGS Reports Strong Half 2014 Results

TGS reports net revenues of USD 205 million in Q2 2014, compared to USD 210 million in Q2 2013. Earnings before interest and taxes (EBIT) totaled USD 82 million,

Matson Reports Solid Q2 2014 Results, Dividend Increased

Leading U.S. carrier in the PacificMatson, Inc. reported net income of $18.1 million or $0.42 per diluted share for the quarter ended June 30, 2014, compared with $20.

Energy

Kurdish Crude Oil Tankships: End-Game Still in Doubt

After a legal show-down in Texas this week, the outlook for a handful of tankers holding some $300 million worth of Kurdish oil is not looking good. Seemingly

Greek Warship Evacuates Libya Personnel

Greece safely evacuated embassy staff and more than one hundred Chinese and European nationals from Libya early on Friday with a navy frigate sailing back to the Greek port of Piraeus,

US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to

News

ESS Lands Second Contract with Dolphin Drilling

ESS Support Services Worldwide, part of Compass Group, has won a new, three-year contract, worth £10.5 million, to provide hotel and catering services to Dolphin Drilling Ltd.

“K” Line and Ports America Deal on Strategic Partnership

KAWASAKI KISEN KAISHA, LTD. (“K” Line) is pleased to announce that “K” Line and Ports America have agreed to form a strategic partnership aimed at enhancing

New Tolls Structure at Panama Canal

The Panama Canal Authority has advised that a new tolls structure will be introduced when the expanded Canal opens. The proposal the Authority plans to present

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0994 sec (10 req/sec)