Coal stocks at ports in the Amsterdam-Rotterdam-Antwerp region have firmed to their highest levels this year at around 6 million mt, according to data collected from port sources Monday.
Sources said coal stocks at EMO Dry Bulk Terminal in Rotterdam rose by approximately 100,000 mt on the week to 3.2 million mt as of Monday, while inventories at OBA Amsterdam went up by 150,000 mt on the week to 2.35 million mt Monday.
Stocks at OVET Dry Bulk Terminal in Vlissingen rose 20,000 mt to 450,000 mt on Monday, also the highest level this year.
Market participants said supply-demand fundamentals have balanced out after US miner Drummond's Colombian coal exports were reinstated at the start of the month.
Drummond's exports were banned by the Colombian government in January due to the company's non-compliance with environmental regulations stating that all coal export terminals in Colombia should have direct loading operations in place by a New Year deadline.
Coal burn for European power generators remained low following a mild winter, with power plants running at lower capacities, and with demand expected to remain dampened in the run-up to summer.
Platts last assessed the price of European-delivered CIF ARA thermal coal basis 6,000 kcal/kg NAR and for delivery within the next 15-60 days at $75.70/mt Friday, 55 cents lower than a month earlier.
