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 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Egypt Buys 175,000mt of Russian Wheat

Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Wednesday it had bought 175,000 metric tons of Russian wheat for shipment Sept.

Rio Tinto Pulls Plug on Mozambique Coal Venture

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending

MOL Ship Management Earns Energy/Enviromental Certifications

First company to receive ISO50001 certification from Nihon Kaiji Kyokai.   MOL Ship Management Co., Ltd. (MOLSHIP), a core ship management company in the corporate group headed by Mitsui O.

Energy

US Crude Oil Exports Hit 15-year High

U.S. crude oil exports reached 288,000 barrels per day (bpd) in May, the highest levels since April 1999, data from the U.S. Energy Information Administration showed on Wednesday.

BOEM Extends O&G Lease Comment Period

The Bureau of Ocean Energy Management (BOEM) is extending the public comment period for the Request for Information (RFI) and Comments on the Preparation of the

Rio Tinto Pulls Plug on Mozambique Coal Venture

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending

Barges

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Globecomm to Provide VSAT for PBJV Barge

Purpose-built accommodation and pipe-lay barge on charter to Petronas equipped with VSAT and L-Band services. Globecomm Maritime has been awarded a contract

Horizon Delivers 4th 74’ Towboat for Canal Barge Co.

Horizon Shipbuilding, Inc., Bayou La Batre, AL, has delivered the fourth in a series of 74’ towboats to Canal Barge Company, Inc. of New Orleans, LA.    The Jane

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0987 sec (10 req/sec)