{"id":11480,"date":"2012-06-14T23:21:23","date_gmt":"2012-06-14T21:21:23","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/euro-coal-s-african-hits-fresh-low-comes-to-europe\/"},"modified":"2012-06-14T23:21:23","modified_gmt":"2012-06-14T21:21:23","slug":"euro-coal-s-african-hits-fresh-low-comes-to-europe","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/euro-coal-s-african-hits-fresh-low-comes-to-europe\/","title":{"rendered":"Euro Coal-S.African hits fresh low, comes to Europe"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Low freight rates help S.African coal flow to ARA<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Aug S.African hits lowest level since Feb 2010<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, June 14<\/span> (Reuters) &#8211; South African prompt physical<br \/>\ncoal prices traded at the lowest level since February 2010 on<br \/>\nThursday, $81.65 a tonne FOB, as oversupply continued to weigh<br \/>\non the market.<\/p>\n<p><span><\/span><\/p>\n<p>South African prompt cargoes are being sold into Europe for<br \/>\nthe first time in months because freight rates are so low and<br \/>\nEuropean buyers are seen as more reliable counterparties than<br \/>\nsome who have recently defaulted or re-negotiated prices in<br \/>\nAsia, traders and utilities said.<\/p>\n<p><span><\/span><\/p>\n<p>Barely any South African coal has been shipped into Europe&#8217;s<br \/>\nmain coal importing hub Amsterdam-Rotterdam-Antwerp for the past<br \/>\nseveral months because other origins were cheaper on a delivered<br \/>\nbasis.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Everyone in Europe can take South African to use it or<br \/>\ntrade it but only when, for whatever reason, it prices in<br \/>\ncompetitively,&#8221; one utility source said.<\/p>\n<p><span><\/span><\/p>\n<p>DES ARA European delivered coal prices held steady for the<br \/>\nsecond day running at $82-85 a tonne on Thursday while prompt<br \/>\nSouth African FOB prices have held at similar levels.<\/p>\n<p><span><\/span><\/p>\n<p>Capesize freight rates between South Africa&#8217;s Richards Bay<br \/>\nand Amsterdam-Rotterdam-Antwerp are now just above $5.00 a tonne<br \/>\n&#8211; which does not even cover the cost of bunker fuel on the<br \/>\nvoyage.<\/p>\n<p><span><\/span><\/p>\n<p>The &#8220;implied freight&#8221; (coal market parlance for the<br \/>\ndifferential between delivered and FOB prices which in theory<br \/>\nshould reflect the freight cost) had become distorted earlier<br \/>\nthis year, with FOB prices higher than delivered.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Low freight rates help S.African coal flow to ARA * Aug S.African hits lowest level since Feb 2010 LONDON, June 14 (Reuters) &#8211; South African prompt physical coal prices traded at the lowest level since February 2010 on Thursday, $81.65 a tonne FOB, as oversupply continued to weigh on the market. South African prompt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11480","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11480"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11480\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}