In Commodity News 30/04/2015
Combined coal stocks at three delivery terminals in western Europe’s Amsterdam-Rotterdam-Antwerp trading hub were around 4.3 million mt Wednesday, down 28% from the same time last year, according to data from port sources.
The volume also slipped 7% on the week and was at the lowest level since the beginning of December 2013, according to Platts data.
The year-on-year fall was largely attributable to coal stocks at the EMO Dry Bulk Terminal in Rotterdam almost halving to around 1.7 million mt Wednesday from 3.2 million mt at the same time last year, according to port sources. The volume also fell 300,000 mt on the week.
According to port sources, stocks at OBA Bulk in Amsterdam fell 150,000 mt on the year to around 2.2 million mt Wednesday, but were stable for the second consecutive week.
Coal stocks at the OVET Dry Bulk Terminal in Vlissingen/Flushing were 435,000 mt, some 15,000 mt lower than a year ago and down 23,000 mt from 458,000 mt last week.
European-delivered thermal coal spot prices have remained in a $3 range around the $60/mt level since mid-March, with market sources noting that supply disruptions in the form of Colombia’s Fenoco night time rail ban and a landslide impacting railings from Russia’s Kuzbass region had little impact except to keep prices from falling below $58/mt.
Platts assessed the price of European-delivered CIF ARA thermal coal basis 6,000 kcal/kg NAR and for delivery within the next 15-60 days at $60.60/mt Tuesday, rising 60 cents on the week.
