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UK May thermal coal imports drop to 4 month reduced

Sep 9th 2020, 8:40 pm
Posted by jerrodngf
UK imports of thermal coal fell to 239,663 mt in May, down 34% from April to a four month low, the most recent customs information showed. Overall imports over the month were down 7% on the year, according to S&P Global Platts historical information, although the origination of cargoes had expanded in the direction of even more non-traditional vendors. Although Russia kept its status as the biggest vendor right into the country, sending out 127,769 mt of both bituminous and also sub-bituminous coal in Might-- up 24% on the month-- volumes from Colombia and also the United States was up to zero for the first time in three months.

Imports from Kazakhstan and also the Irish Republic completing 62,392 mt went some means to covering the shortfall, drag reducing agent however 49,5000 mt came from South Africa for the very first time in four months, the information showed. South African Richards Bay FOB 6,000 kcal/kg NAR rates over the period prices for May-loading (evaluation dates March 17-May 24) had averaged around $74/mt FOB according to Platts data, with freight right into northwest Europe from Richards Bay averaging around $8/mt, providing a calculated provided rate of $82/mt.

Comparative, the CIF ARA 6,000 NAR kcal/kg price for May-delivery had balanced simply $74/mt, efficiently shutting the arbitrage for this material into the UK. Over January-May, complete collected volume of thermal coal imports into the UK was 1.8 million mt, down 10% on the same period in 2016, as shipments remained reduced because the nation doubled it's Carbon Cost Assistance device in April 2015, decreasing coal's competitiveness. Coal had actually comprised only around 2% of the UK's overall energy mix in Might, at just 0.48 TWh, drag reducing agent according to Platts information, which appeared consistent into June based upon preliminary numbers.

Although this was behind eco-friendly generation that completed 3.7 TWh, coal had actually taken a slightly higher share of the electric power generation mix in May versus sustainable than seen in previous months as wind and also hydro both uploaded slight reductions over the month, while total power need increased somewhat.

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