Cement News tagged under: petcoke
Discounts high as petcoke slides02 October 2024, Published under Cement NewsOil prices recovered to US$74.50/bbl from US$70 on 20 September 2024, supported by OPEC+ and the US Federal Reserve’s interest rate cut. Coal fell on lower oil prices while gas remained in the US$105-120 range. Meanwhile, petcoke was under pressure from China’s potential ban and as petcoke slides, discounts are very high. On 20 September 2024 the discount for 6.5 per cent sulphur petcoke FOB sold at US$51 is 62 per cent when compared with API4 coal sold at US$107 in the 4Q24. The CIF ARA ... |
USG Supramax/Ultramax market stabilised and rising after falling during last month30 September 2024, Published under Cement NewsBy Brannvoll ApS, Denmark The USG Supramax/Ultramax freight market was holding largely throughout the month. The rates fell mid-month as tonnage count in the region was rising very fast while there were only a few cargoes entering the market. However, the rates stabilised quickly as more petcoke cargoes appeared for spot dates on transatlantic and front-haul routes. Freight rates for transportation of a Supramax-lot of petcoke from Houston to ARA ports with spot laycans are at US$23... |
Energy Index driven lower by oil – petcoke below US$60 with high discount offer23 September 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Geopolitics still dominate the markets. Financial markets expect the US Federal Reserve to deliver a 0.25 per cent cut in mid-September and a further 0.25 per cent before the US presidential elections. This could be followed by the European Central Bank and seen as the trend for 2025. The focus remains on inflation, which now is falling in both US and EU. Meanwhile, in the Middle East tension has somewhat calmed, however, high levels of tensio... |
Supramax freight rates held at high levels, as demand/supply ratio balanced itself23 August 2024, Published under Cement NewsBy Brannvoll ApS, Denmark The USG Supramax spot freight market remained firm as demand stayed healthy, especially for transatlantic trips. Closer to the end of the month, rates stabilised as the region appeared quite balanced. Despite the demand/supply equilibrium, the sentiment turned somehow uncertain, but rates maintained the achieved levels. upramax freight rates for petcoke from Houston, USA, March 2019-September 2024 Freight rates for transportation of a Supramax-lot... |
Sudden recession fear sends oil and equity markets lower – petcoke now offering higher discounts20 August 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The major equity market decline at the start of August, initiated by an interest rate increase to 0.25 per cent by the Bank of Japan, and followed by weak US employment numbers, suddenly turned the markets into fear of recession. The US Federal Reserve’s (Fed) indication that it will lower interest rates from September was suddenly seen as negative. It seems the market has forgotten that the Fed’s successful strategy to fight inflation is no l... |
Petcoke-coal discounts slip as coal prices drop but freight prices rise05 August 2024, Published under Cement NewsBy Frank O.Brannvoll, Brannvoll ApS, Denmark Petcoke prices have been slightly under pressure from higher freight prices but remain stable. Following a drop in coal prices, discounts have slipped and are back in the inexpensive end of the neutral zone. On 23 July 2024 the discount for 6.5 per cent sulphur petcoke FOB sold at US$64 is 52 per cent when compared with API4 coal sold at US$106 in the 3Q24. The CIF ARA 6.5 per cent petcoke contract sold at US$89 is at a discount of 34 per cen... |
Healthy demand lifts USG Supramax freight market25 July 2024, Published under Cement NewsBy Brannvoll ApS, Denmark The USG Supramax spot freight market showed a considerable rate improvement for all routes as some fresh cargo trickled in for June dates. There was a limited availability of tonnage open in US East Coast (USEC), attracting some ballasters from the USG and Continent areas. The market stayed well-supported thanks to petcoke and coal shipments on trans-Atlantic and front-haul routes. Freight rates for transportation of a Supramax-lot of petcoke from Housto... |
Oil higher on positive demand forecasts and geopolitical risk while coal and petcoke lower19 July 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Political risk and central banks were key in energy developments in the June-start of July period. The European Central Bank (ECB) and US Federal Reserve (Fed) both restated that interest rate cuts depend on the inflation rate nearing two per cent. The ECB hinted at two more rate cuts and the FED at possibly one. The centre-left election results in the UK and France, along with the European Parliament election results, calmed the market aft... |
Supramax rates for USG shipments stay under pressure from limited demand27 June 2024, Published under Cement NewsBy Brannvoll ApS, Denmark The USG Supramax spot freight market remains weak with no positive changes observed this month. The spot segment is experiencing a further decrease in rates with the tonnage vs cargo balance in charterers’ favour amid a slow flow of grains, coal and petcoke cargoes from the main loading areas in the North Atlantic. Freight rates for transportation of a Supramax-lot of petcoke from Houston to ARA ports with spot laycans are at US$18/t on average. Deals for deli... |
ECB lowers interest rate while reduced OPEC+ production cuts send oil lower – China discusses ban on >3% sulphur petcoke26 June 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Geopolitical risk premiums slowly vanished and need new events to return. Meanwhile, at the start of June, the focus turned towards OPEC and the central banks. The European Central Bank (ECB) delivered its first cut of 0.25 per cent since 2019, giving equities a boost. However, the US Federal Reserve is still seen on hold until at least September. And further cuts from ECB are expected to be ~0.5 per cent more but fully depend on inflation... |