Mild Weather in Europe Hurts Coal Prices

MarineLink.com
Monday, February 24, 2014

by Henning Gloystein, Reuters

European physical coal prices on Monday dropped to their lowest level since last summer as mild weather pulled down demand.

Cargos for delivery in March to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were valued around $73.50 per metric ton on Monday, down $0.8 since Friday and to their lowest level since early July 2013.

Traders said the price drop was a result of low demand and healthy supplies.

"Our stocks are full, and the weather outlook suggests that the mild winter will go directly into a mild spring. At the same time we're looking at improved supply availability from Colombia from April," said one coal trader with a utility.

Meteorologists expect an early spring to continue to bring warmer-than-usual conditions over most of Europe, implying sustained weak energy demand.

The weak physical prices also fed into the futures market, where API2 2015 swaps contracts traded at $80.60 a tonne, over 40 percent lower than their most recent peak of over $140 a tonne in 2011.

(Editing by David Evans, Reuters
)


Ports

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

MPA Academy’s Port Management Program Attracts Global Maritime Officials

The 3rd Port Management Programme (PMP), one of the flagship programmes developed by the MPA Academy for port masters, harbour masters and middle managers from

Singapore to Focus on Improving Navigational Safety

The Maritime and Port Authority of Singapore (MPA) launched the first-ever International Safety@Sea Conference in Singapore.    The conference will run for two days and concludes on 31 August 2016.

News

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

Singapore to Focus on Improving Navigational Safety

The Maritime and Port Authority of Singapore (MPA) launched the first-ever International Safety@Sea Conference in Singapore.    The conference will run for two days and concludes on 31 August 2016.

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

Logistics

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

Doing Business Differently to Meet Sustainability Targets: DNV GL

Pressure is mounting on the global oil and gas industry to reduce environmental footprint at the same time as the industry is under significant cost pressure.    Since

Samskip Acquires Euro Container Line AS

Samskip has completed the acquisition of Euro Container Lines AS, building on a strategy for growth in the Nordic area to make its largest ever acquisitive move in Norway.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines 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: 0.1192 sec (8 req/sec)