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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Uncertainity Plagues Seaborne Iron Ore Shipments

Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Clarksons Research Report.

Berthing Policy for Dry Bulk Cargo for Indian Ports Unveiled

Ministry of Shipping has formulated a new Berthing Policy for Dry Bulk Cargo for all Major Ports which will come into effect from 20th August, 2016. The objective

RS Rules Conform to the IMO Goal-based Standards

The rules of the Russian Maritime Register of Shipping are in conformity to the International Maritime Organization (IMO)goal-based standards (GBS), the IMO’s Maritime

Ports

Antwerp Port Extends Partnership with DMU of China

The port of Antwerp is to collaborate with Dalian Maritime University (DMU) in northern China for the next three academic years. DMU is a prestigious Chinese maritime

Essar's Terminal at Kandla Port crosses 100 mi tonne throughput

The marine terminal of Vadinar Oil Terminal Ltd (VOTL), which is part of Essar Ports Ltd, has been the best performing terminal in the Kandla Port Trust (KPT) for two consecutive years.

Panama Canal Officially Opens $5.25Bln Expansion

A 984-foot Chinese container ship was greeted with fireworks and cheers from a crowd that had gathered, when it made an inaugural passage through the newly expanded Panama Canal on Sunday,

Finance

Will Maersk Line acquire HMM

There are rumours among observers that the  market leader Maersk Line is planning to acquire South Korea’s shipping major Hyundai Merchant Marine (HMM).   Neither

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

News

Austal Delivers Seventh EPF7 to US Navy

Austal Limited (Austal) informed that the U.S. Navy has accepted delivery of USNS Carson City (EPF 7) from Austal USA, during a ceremony held aboard the ship at Austal USA’s shipyard in Mobile,

Antwerp Port Extends Partnership with DMU of China

The port of Antwerp is to collaborate with Dalian Maritime University (DMU) in northern China for the next three academic years. DMU is a prestigious Chinese maritime

Wärtsilä to Power Two Indian Dredgers

Wärtsilä has won an order for two new 8000m3 trailing suction hopper dredgers being built for the Adani group, India's largest private multi-port operator. The

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Sonar 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: 0.1037 sec (10 req/sec)