Cement News tagged under: petcoke
High volatility in USG Supramax/Ultramax markets22 January 2024, Published under Cement NewsBy Brannvoll ApS, Denmark The first half of the month went very well for the Supramax/Ultramax owners in USG. The market was strong with levels increasing considerably as demand remained healthy for December dates and there was minimal tonnage supply to handle an increasing volume of cargo requirements. Nevertheless, closer to the end of the month, the USG market started getting softer due to limited fresh demand being introduced. Amid the upcoming holidays most requirements with spot ... |
FOB discounts decrease but ARA discounts up29 December 2023, Published under Cement NewsCoal, along with oil fell to US$100 on 21 December 2023, and OPEC+ introduced new cuts to support oil at US$75-80. However, oil rose due to naval attacks in the Red Sea and trouble in the Suez Canal. Petcoke FOB contracts collapsed as freight rallied making CFR prices expensive.There was also a lack of interest from far destinations. The discount on FOB contracts increased but fell on ARA contracts. Petcoke discount falls (21 December 2023) Petcoke with 6.5 per cent S is exp... |
USG Supramax market skyrocketing as demand/supply plays in owners’ favour and congestion impacts Panama Canal27 December 2023, Published under Cement NewsBy Brannvoll ApS, Denmark USG Supramax/Ultramax market remained healthy during the month with rates rising above previous issue’s levels as tonnage for November dates appeared tight, while demand remained healthy. The strong segment in this area resulted in vessels ballasting from across the basin. Rates considerably increased throughout the month for all directions. There is a further increase in downtimes passing the Panama Canal. Market players increasingly prefer shipments via the ... |
Oil pressures energy complex lower despite OPEC+ cuts while petcoke collapses, offering new high discounts towards coal22 December 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The energy complex fell in November, with oil leading the way. The Israel-Gaza war continued but still without any contagion – and no war premium. Ukraine-Russia war is frozen literally, and some hints of possible talks are emerging to the upcoming Russian election. The US Federal Reserve and European Central Bank have both hinted in speeches that interest rates need to be high but not higher, which has given a relief rally in the financia... |
Coal drops and petcoke-coal discounts fall20 December 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The price of coal declined after the Israel-Gaza war premium was taken out and oil also moved down. Petcoke saw downward pressure by coal with discounts falling. As a result, discounts on both FOB and ARA contracts are now in the lower part of the neutral range. Petcoke with 6.5 per cent S is expected to continue in the US$80-95 range with resistance at US$95, US$105, US$115 and US$135. Support is at US$80, US$68 and US$55 with multi-year... |
Energy complex lower on fading war premium while petcoke discounts fall as coal retraces28 November 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The Israel-Gaza situation seems to be contained from spreading and the war premium has quickly faded as no disruptions in any markets have been seen. The focus has now shifted back to demand and supply. The two major central banks kept their rates unchanged in the October meetings, keeping to the “higher for longer” rhetoric with inflation still too high for both the US and EU central banks. China’s growth, particularly in the property market... |
Freight rates rise again on increased petcoke and grain demand27 November 2023, Published under Cement NewsBy Brannvoll ApS, Denmark The USG Supramax spot freight market finished the month on a positive note with rates continuing to increase as tonnage supply appears tight, while demand remains healthy. This especially relates to the fronthaul trips as fresh petcoke and grain cargoes are steadily trickling in. Meanwhile, the transatlantic segment had its ups and downs with rates dropped on transatlantic routes in the first half of the month but bounced back closer to its end. Freight rat... |
Israel-Gaza war drives coal higher with petcoke reversing its drop03 November 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Coal was driven higher by the energy complex responding to the Israel-Gaza war and is now at the top of the US$100-140 range. Petcoke reversed its fall as its discount increased, creating a switch from coal. After reaching the major support at US$80, petcoke bounced back and will now follow coal, possibly at the top of the range. Petcoke with 6.5 per cent S is expected to continue in the US$80-95 range with resistance at US$95, US$105, US$... |
After dip, freight rates seen stable to slightly higher23 October 2023, Published under Cement NewsBy Brannvoll ApS, Denmark The USG Supramax spot freight market was strong during the first half of the month. Rates were increasing thanks to consistent fronthaul demand while shortage of tonnage in the United States East Coast (USEC) area presented attractive options for vessels free in the North Coast South America (NCSA) area, which usually prefer to ballast towards USG. However, at the end of the month, it became evident that fresh demand was lacking for transatlantic trips from USG.... |
Drop in oil, reversed by new Middle East situation adding uncertainty, while petcoke discounts attract buyers again20 October 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark A geopolitics crisis emerged with the Hamas attack on Israel at the beginning of October. The European Central Bank raised interest rates 0.25 per cent but is behind the US Federal Reserve (Fed). This has strengthened the US dollar as the Fed still talks of keeping rates high for longer. The two per cent inflation target is still far away. In October the fear surrounding China’s property market re-emerged and, along with higher interest rate... |