Friday, 24 Feb 2012
Reuters reported that prompt physical coal prices were little changed on Thursday on muted trading activity and bid offer spreads for fixed price cargoes widened by around USD 1, too far apart for trades to seem likely.
An April South African cargo was bid at USD 105.75 and offered at USD 107.45, compared with bids and offers of USD 106 on Wednesday.
A May South African cargo was bid at USD 101.25 and offered at USD 102.50.
An April DES cargo was bid at USD 98.50 and offered at USD 100.50
One trader said “The market's moved sideways, if anything, just looking at the wider spreads.”
Oil at over USD 100 a barrel is providing structural support to coal prices, traders and analysts said, although there are spells when coal disconnects from oil and moves more on fundamentals.
(Sourced from Reuters)
Showing posts with label coal trading companies. Show all posts
Showing posts with label coal trading companies. Show all posts
Friday, February 24, 2012
Tuesday, August 9, 2011
Euro coal prices soften on oil slide turmoil
Tuesday, 09 Aug 2011
Reuters reported that prompt physical coal prices fell recently in light trade with the market tracking a more than 3% slide in oil due to growing financial turmoil.
August is the annual low point for coal trading activity, because many participants are on holiday and end users are usually covered and do no need fresh cargoes until September or October.
A trader in Europe said "The whole thing has come off on other factors such as oil. It's certainly outside factors and not fundamental coal issues. It's fairly balanced."
As per report, oil dropped recently as worry about an economic slowdown spread after Standard & Poor cut the United States top tier credit rating late on Friday.
Fear gripped financial markets as the fallout from the historic downgrade of the US debt rating by S&P drowned out pledges of assistance from Europe's central bank and soothing words from the Group of Seven.
(Sourced from Reuters)
August is the annual low point for coal trading activity, because many participants are on holiday and end users are usually covered and do no need fresh cargoes until September or October.
A trader in Europe said "The whole thing has come off on other factors such as oil. It's certainly outside factors and not fundamental coal issues. It's fairly balanced."
As per report, oil dropped recently as worry about an economic slowdown spread after Standard & Poor cut the United States top tier credit rating late on Friday.
Fear gripped financial markets as the fallout from the historic downgrade of the US debt rating by S&P drowned out pledges of assistance from Europe's central bank and soothing words from the Group of Seven.
Saturday, February 12, 2011
INDONESIA allowed 60 coal trading companies to export coal
Wed, Feb09, 2011
A temporary ban imposed on coal traders in January has lifted this week. As of today 60 coal trading companies were allowed to resume coal shipments the export market. Since 5th January 2011, all the coal exports through coal trading companies were banned due to lack of supporting regulations. Indonesia's trade ministry instructed surveyors to halt temporarily issuing surveyor reports to traders in the process of reapplying for trading permits under a new coal and mining law.
Minister of energy has signed a new regulation on 4th February allowing director of general of coal and mineral to sign and issue IUP OP KPP to traders.
According to media reports, director general of coal and minerals has already signed 60 permits and forwarded the list of qualified trading companies to trade department. On receipt of the list of IUPOPKPP holders, trade department has instructed independent surveyors to conduct the survey which is one the requirement to apply the export permit from customs office.
“We started pre-shipment survey for coal that belongs to coal traders”, said an independent surveyor.
Indonesian coal mining association claimed that, around 3.5 million tons of coal piled at loading ports due to exports ban on coal traders since early January, and may be cleared within this month. Some coal traders have declared force majeure and some postponed shipments due to new ban coal traders early January. Around 60 to 70 vessels was also anchored in coal loading anchorages and waiting for coal since early January 2011, said stevedoring and shipping agent.
Traders optimized that, they can clear delayed cargoes as soon as possible and other industries, which are integrated to coal loading and transportation also will return to normal after slowing down for almost one month.
Indonesian coal reference price has also jumped significantly in February compared with January 2011. Energy Ministry has declared February ICRP at US$ 127.05 per metric ton, which was 13.03 percent higher than January HBA of US$ 112.40.(CS)
(sourced:coalspot)
If you believe an article violates your rights or the rights of others, please contact us.
A temporary ban imposed on coal traders in January has lifted this week. As of today 60 coal trading companies were allowed to resume coal shipments the export market. Since 5th January 2011, all the coal exports through coal trading companies were banned due to lack of supporting regulations. Indonesia's trade ministry instructed surveyors to halt temporarily issuing surveyor reports to traders in the process of reapplying for trading permits under a new coal and mining law.
Minister of energy has signed a new regulation on 4th February allowing director of general of coal and mineral to sign and issue IUP OP KPP to traders.
According to media reports, director general of coal and minerals has already signed 60 permits and forwarded the list of qualified trading companies to trade department. On receipt of the list of IUPOPKPP holders, trade department has instructed independent surveyors to conduct the survey which is one the requirement to apply the export permit from customs office.
“We started pre-shipment survey for coal that belongs to coal traders”, said an independent surveyor.
Indonesian coal mining association claimed that, around 3.5 million tons of coal piled at loading ports due to exports ban on coal traders since early January, and may be cleared within this month. Some coal traders have declared force majeure and some postponed shipments due to new ban coal traders early January. Around 60 to 70 vessels was also anchored in coal loading anchorages and waiting for coal since early January 2011, said stevedoring and shipping agent.
Traders optimized that, they can clear delayed cargoes as soon as possible and other industries, which are integrated to coal loading and transportation also will return to normal after slowing down for almost one month.
Indonesian coal reference price has also jumped significantly in February compared with January 2011. Energy Ministry has declared February ICRP at US$ 127.05 per metric ton, which was 13.03 percent higher than January HBA of US$ 112.40.(CS)
(sourced:coalspot)
If you believe an article violates your rights or the rights of others, please contact us.
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