Cement News tagged under: petcoke
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... |
Petcoke discount continues to offer good potential03 June 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Coal prices stabilised after their fall in early May as geopolitical developments as well as higher oil and gas prices played their part. The petcoke FOB price trended lower on weak demand and ample supply, testing the low 60s. On FOB and ARA basis, the petcoke discount remains in the cheap zone and offers good potential. On 20 May 2024 the discount for 6.5 per cent sulphur petcoke FOB sold at US$62.50 is 55 per cent when compared with API... |
USG Supramax/Ultramax shows stable market fundamentals23 May 2024, Published under Cement NewsBy Brannvoll ApS, Denmark The USG Supramax/Ultramax freight market started the month on a soft mode, but eventually made a positive turn, slowly but confidently. A tightening tonnage list for spot laycan dates was helping owners to insist on more favourable rates, especially on transatlantic routes. In the second half of May, the market has levelled as the tonnage supply remained largely unchanged WoW and the segment ended up being relatively balanced. Freight rates for transportation ... |
Venezuelan sanctions reimposed, Russia pauses coal export fee, while petcoke discount remains attractive20 May 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The war premium and geopolitical tensions eased during April and the energy market’s focus has again shifted towards the demand factor in the energy complex. Oil has retraced together with coal and gas. IMF has adjusted up the expected global GDP growth to 3.2 per cent, but both the US Federal Reserve (Fed) and European Central Bank (ECB) have repeated the mantra “higher for longer” due to developing inflation of above two per cent, especially... |
Petcoke discount remains in cheap zone with good potential03 May 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Coal moved higher on the back of geopolitical tensions and was supported by oil and gas prices. Petcoke FOB picked up slightly from last month’s price but is trapped in the high US$60s. Discounts increased and petcoke increased from lows at US$62. On FOB and ARA bases, the petcoke discount remains in the cheap zone and offers good potential. The discount on ARA rose to cheap petcoke on increasing API2 and falling petcoke with freight USGC ARA ... |
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... |