Combined coal stocks at three delivery terminals in the Amsterdam-Rotterdam-Antwerp trading hub were up 1.8% week on week to 3.13 million, according to data gathered from port sources Tuesday.
“There have been more arrivals in the previous week, but I think the stocks will move lower in the coming days as we do not have much scheduled to come in now,” one port source said, adding the reload market was also quiet.
The total volume was 40.6% lower year on year to remain close to historic lows, according to S&P Global Platts data.
OBA Bulk Amsterdam’s terminal was the only facility to register a reduction over the week, with combined coal stocks falling 100,000 mt to 1.25 million, port sources said.
That left inventories at the terminal at their lowest level since Platts records began in mid-2013, with volume also 1.35 million mt lower than levels seen in the same week in 2015.
Port sources said combined coal stocks at the EMO Dry Bulk Terminal had gained 100,000 mt over the week to 1.4 million mt, although only around 300,000 mt was coking coal. This was also 700,000 mt lower than the same week in 2015.
OVET Dry Bulk Terminal in Vlissingen also showed a week-on-week gain of 55,000 mt, with 475,000 mt of coal on stock, although this was 83,000 mt lower than levels seen in the same week in 2015.
Several sources had been expecting more deliveries into Northwest Europe by the beginning of June as a total of 1.1 million mt of thermal coal for June delivery was traded between April 4 and May 13, according to S&P Global Platts records, 475,000 mt of which was sold with exchange of futures for physical terms.
European-delivered thermal coal spot prices have spiked to 2016 highs following an apparent resurgence of buying interest in the past week, although there was talk about how much of that would be physically delivered into Europe by July and August.
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 $51.70/mt Monday, up more than $1 week on week.
Source: PlattsPrevious Next
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