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

Bulk Carrier Trends

WISTA Seminar on Dry Bulk Receives Wide Response

A Shipping Seminar on "Dry Bulk Chartering, Operations and Arbitration”  held on 27th June 2015 at the Narottam Morarjee Institute of Shipping, Nariman Point, Mumbai was well attended.

Mega Valemax Enteres China for First Time in Two Years

Mega-ore carrier  Valemax  Yuan Zhuo Hai, which is owned by China Ore Shipping,  has arrived Dongjiakou Port in Qingdao for unloading iron ore. This is the first

Confidence Low in Shipping Idustry

Confidence levels in the global shipping market have fallen to a seven-year low as a glut of cargo ships, weak freight rates and excess liquidity continue to batter the industry,

Energy

China's Navy holds Missile Combat Resupply Drill

China's navy held its first drill simulating the resupply of missiles in a combat environment in the Yellow Sea, the Defence Ministry said on Thursday, the latest

Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural

GasLog Partners To Buy Three Vessels

GasLog Partners LP and GasLog Ltd. announced today the closing of the Partnership’s acquisition from GasLog of 100% of the ownership interests in the entities

Barges

Propulsion Under Wireless Remote Control

Thrustmaster of Texas, Inc. has been supplying wireless remote controls for thrusters since the 1980s, offering products that are supported through their lifecycles

ContainerTug B.V. Releases Two New Models

Young Dutch ship design, engineering and construction company ContainerTug B.V. follows on the introduction of the ContainerTug 600S early last year with the release

Barge Captain Gets Prison Time for Fatal Explosion

An Illinois man who was captain of a petroleum barge that exploded in a Chicago canal in 2005, killing a crew member, was sentenced to six months in prison on Friday, prosecutors said.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0890 sec (11 req/sec)