Euro Coal: Prices Drop on Mild Weather Outlook

Marinelink.com
Monday, February 24, 2014

European physical coal prices on Monday dropped to their lowest level since last summer as mild weather pulled down demand.
Cargoes for delivery in March to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were valued around $73.50 a tonne 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.

(Source: Reuters; Reporting by Henning Gloystein, editing by David Evans)

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

Bulk Carrier Trends

Diana Shipping Signs Loan Facility with Danish Ship Finance

Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has completed a drawdown of US$30 million,

BP Shipping Turns 100

BP Shipping celebrated its 100-year anniversary yesterday, making it the longest continually operating company in the group.   Formed on April 30, 1915 as the British Tanker Company,

T&T Salvage Completes OPA 90 Response in the Great Lakes

T&T Salvage was activated under its Salvage and Marine Firefighting Agreement to respond to a 600-foot laker that went aground on the St Mary’s River near DeTour Village, Mich.

Energy

Research Award to Honor Outgoing ABB Chairman Gruenberg

ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after

DNV GL's Walk to Work Guidelines for Offshore Personnel

Offshore facility operators can now consider an alternative and more cost-effective means to transfer personnel to and from their facilities, which is safe, efficient and regulatory compliant.

BP Shipping Marks its 100th Year

BP Shipping today celebrates its 100-year anniversary, making it the longest continually operating company in the BP group. Formed on April 30, 1915 as the British Tanker Company,

 
 
Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction 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: 0.1047 sec (10 req/sec)