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We are in for some nerve-wrecking months for drybulk shipping. The most likely alternative to Australian steam coal is Mongolian imports. Sharply on the rise in H2-2020. A blow for seaborne demand if it turns out like that in Jan and Feb. Source: Peter Sand Follow on Twitter: [tfws username=”BIMCO_PS” height=”700″ width=”350″ theme=”light” color=”#FAB81E” tweets=”2″ […]
The unexpected jump in electricity consumption in China due to exceptionally robust industrial activity and low temperatures has led power rationing measures to be introduced this month by Central China’s Hunan and East China’s Jiangxi and Zhejiang provinces. This is an unusual occurrence in winter, which also challenged domestic supply of coal, the core fuel […]
Over the past week, thermal coal prices in Europe soared to over 66 USD/t amid the growth of natural gas indices in EU, the reduction in ARA coal reserves and limited export supplies to the European market. New US sanctions against the Nord stream 2 project, as well as seasonal gas demand in the European […]
Russian exporters redirect coal supplies from European to Asian markets, leaving Latvian ports with a little coal-handling volumes amid lowering demand for thermal coal in Europe as a result of the growing share of renewables in the EU power mix, second wave of Covid-19 and tough competition of coal with natural gas. In January-December 2020 […]
This week thermal coal indices in the EU have exceeded 66.0 USD/t, rising to their maximum since March 2019. The coal quotes gained momentum amid an increase in coal-fired generation in a number of European countries, a surge in TTF gas prices, as well as a reduction in ARA coal reserves. In November, the volume […]
SUEK purchased dry bulk terminals in the ports of Tuapse and Murmansk from EuroСhem. Both companies are owned by a Russian businessman Andrey Melnichenko. The price of the transaction could amount to 20 billion RUR (274.16 mio USD). Under the conditions of the deal, the purchase of the dry bulk terminal in the port of […]
European coal prices may continue to hover near year-to-date peaks in the remaining days of 2020, thanks to tightening supply in the Pacific region. The front-quarter and front-year API 2 contracts both rose 3% on the week USD 68.15/t and USD 67.25/t, respectively, on Ice Futures. The former contract on Tuesday-Wednesday reached its highest on […]
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025 A global economic recovery in 2021 is expected to drive a short-lived rebound in coal demand following the major drop this year triggered by the Covid-19 crisis, according to a new report […]
Thermal coal exports to China from Australia’s have entirely stopped during rising trade tensions and an unofficial Chinese ban on Australian coal. Newcastle is the largest coal port in the world, and trade with China made up 20 per cent of its exports the past years. But no ships have left for China in December, […]