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New UserARA coal stock levels climb to year-to-date high of 6.4 million mt
03 Jul 2014
Combined coal stocks at delivery ports in western Europe's Amsterdam-Rotterdam-Antwerp trading hub rose for the second week to a year-to-date high of around 6.4 million mt Wednesday, according to stock levels collected from port sources this week.
The combined coal stocks climbed 4.6% on the week and were also 11.8% higher than 5.725 million mt in the same week last year, according to Platts data.
Port sources said coal stocks at the EMO Dry Bulk Terminal in Rotterdam jumped 200,000 mt from on the week to a seven-week high of around 3.5 million mt on Tuesday, which was also about 16.7% higher than the 3 million mt reported in the week starting July 1, 2013.
Stocks at OBA Bulk Amsterdam were 100,000 mt higher on the week at about 2.5 million mt Wednesday, a 8.7% increase on the year from the previous year's 2.3 million mt.
Coal stocks for the OVET Dry Bulk Terminal in Vlissingen slipped 20,000 mt on the week to 400,000 mt Monday, the terminal's lowest stock level in 11 weeks. It was also lower than the 425,000 mt recorded in the same week in 2013.
CIF ARA market sources have been noting for weeks that coal stocks in the ARA area remain high amid low coal burn and mild temperatures.
Combined stocks at the three terminals have been above 6 million mt since the end of April, reaching a previous year-to-date high of 6.38 million mt in the week beginning May 12, according to Platts data.
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 $71.85/mt Tuesday, up 75 cents on the week.
Source: Platts