Cement News tagged under: petcoke
Oil rallies above US$90, coal and petcoke dragged higher as geopolitical tensions increase26 April 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Geopolitics once again dominated the energy complex. Fear of the Gaza conflict spreading towards Lebanon and Iran added a risk premium to oil, driving it above US$90. The US Federal Reserve and the European Central Bank have both claimed that interest rates will not come down before inflation clearly shows movement towards the two per cent benchmark. In combination with high employment and GDP figures, this has lowered prospects for lower i... |
Limited USGC demand for Supramax/Ultramax shipments leads to rate cuts by owners25 April 2024, Published under Cement NewsBy Brannvoll ApS, Denmark The USG Supramax/Ultramax freight market showed positive tendencies during the first half of March, mainly driven by a strong market in the east coast of South America where the grain season is actively gaining momentum. In the second half of March, USG rates started slipping with fresh demand lacking, coupled with lower fixing activity levels as the market approached the Easter weekend. Supramax freight rates for petcoke from Houston, USA, March 2019-M... |
OPEC+ agreement and new sanctions support oil, coal rising from support levels and increasing petcoke discount26 March 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Inflation is still playing a crucial role, as it remains stubborn and both the US Federal Reserve and the European Central Bank are warning the markets that rates will not be cut in the speed expected last year until the two per cent targets are visible. This in combination with lower Chinese activity has rewoken the demand fear and threatened to send oil and other energy commodities lower. However, geopolitical tensions and renewed sanctions... |
USG Supramax rates seeing end-of-month decrease25 March 2024, Published under Cement NewsBy Brannvoll ApS, Denmark It was a positive start to the month for Supramax shipowners in the USG region. The rates were increasing on fronthaul routes on the back of the tight tonnage supply for prompt dates in the area. Meanwhile, the transatlantic segment looked quiet, and rates were flat. In the middle of the month, the market started being in stand-off. Quite a few fresh cargoes were accompanied by an even greater influx of new vessels. Charterers were happy to wait and see if the to... |
FOB and ARA discounts narrow01 March 2024, Published under Cement NewsCoal stabilised on support at a level of around US$90/t, pressured by gas prices but supported by oil. Continued freight issues in the Suez Canal and the Red Sea are supported the price of oil. Petcoke FOB contracts were stable but after buying for the 1Q24 was completed, trade was low. Discounts on FOB contracts remained stable in the neutral zone, but discounts on ARA contracts fell, returning to neutral as the API2 coal price dropped. Petcoke with 6.5 per cent S is expected to continu... |
Supramax rates fell significantly on all routes amid slow start to the year23 February 2024, Published under Cement NewsBy Brannvoll ApS, Denmark The year started on a negative note for Supramax owners in USG. Rates were rapidly falling amid a lack of cargoes and a growing tonnage supply. Closer to the end of the month, the negative trend took a hold and freight rates stabilised thanks to more grains and petcoke offers on fronthaul routes. Freight rates for transportation of a Supramax-lot of petcoke from Houston to ARA ports with spot laycans are at US$21/t on average. Deals for delivery of 50,000t of ... |
Politics dominates the energy market, oil stabilises but coal drifts lower while petcoke rises on lower freight rates20 February 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The oil price remains subject to a risk premium due to the Israel-Gaza conflict. Providing the situation does not escalate, the market hovers around US$80. Meanwhile, the Ukraine-Russia war is still deadlocked, but the political stage in Europe and potential US election is lurking, making negotiations more likely. In the financial markets both the European Central Bank and the US Federal Reserve have kept rates unchanged and have a two pe... |
FOB discounts fall while ARA discounts return to neutral29 January 2024, Published under Cement NewsCoal fell sharply below US$100, due to weak demand and large stocks, on 22 January 2024, while oil hovered around the US$80/bbl mark as freight issues in the Suez Canal and the Red Sea supported oil prices. Petcoke FOB contracts recovered from December lows as demand forecast for 1Q24 and 2Q24 shows an upward trend and discounts were increasing until weaker coal prices emerged. Discounts on FOB contracts declined and ARA discounts returned to neutral from an earlier spell in the cheap zone... |
Energy complex continued lower with petcoke seeing new lows and higher discounts23 January 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The energy complex fell further in December but recovered by the end of 2023. In geopolitical terms, the Israel-Gaza conflict has seen increased risk of spreading and ship attacks in the Red Sea from Houthi terrorists in Yemen increased risk for oil and good shipping. A western UN-backed naval force has put an ultimatum and when attacks stop this would take some support away. The Ukraine-Russia war remains largely frozen, but hints of so... |
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 ... |