Coal news and updates

ARA coal stock levels slip to 7-week low of 6.065 million mt

Combined coal stocks at delivery ports in western Europe's Amsterdam-Rotterdam-Antwerp trading hub slipped to a seven-week low of 6.065 million mt Monday, according to stock levels collected from port sources.

Port sources said coal stocks at the EMO Dry Bulk Terminal in Rotterdam fell 100,000 mt from the previous week to a seven-week low of around 3.2 million mt on Monday, while stocks at OBA Bulk Amsterdam were relatively stable on the week, gaining 50,000 mt to about 2.45 million mt.

Coal stocks for the OVET Dry Bulk Terminal in Vlissingen slipped 35,000 mt on the week to 415,000 mt Monday, the terminal's lowest stock level in six weeks.

One port source remarked that in- and outbound coal vessel movements to the western European ports had been steady for a while now.

Since mid-April, EMO stock levels have remained in the 3 million-3.5 million mt range, while OBA port stocks have stayed around 2.1 million-2.45 million mt, according to Platts records.

CIF ARA market sources have been noting that coal stocks in the area remain high after a mild winter season, with combined stocks at the three terminals having reached a year-to-date high of 6.38 million mt in the week beginning May 12.

Sources have also been pointing out low demand from end-users on the continent with the onset of the low coal burn summer season.

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 $72.70/mt Friday, down 5 cents on the week.

Source: Platts