Three delivery terminals in western Europe's Amsterdam-Rotterdam-Antwerp trading hub had combined coal stocks of around 3.7 million mt Wednesday, edging just 0.4% lower week on week, according to data gathered from port sources.
At 3.7 million mt, stocks are at the same volume for the third consecutive week, as deliveries and offtake slowed over the Easter holidays, while the advent of warmer weather and stronger renewable generation had dampened demand from power utilities, particularly in Germany.
The volume was 1.2 million mt lower from the same week in 2015, registering a 25% year on year fall, according to Platts historical data.
Stocks are traditionally steady around this period, sources said, adding that a build should be evident in the coming week as more vessels are expected to deliver into the region.
Sources said coal stocks at the EMO Dry Bulk Terminal were steady on-week around 2 million mt Wednesday, which is the third straight week of such levels and at the same level on the year.
Stocks at OBA Bulk Amsterdam's terminal were also steady week on week at 1.4 million mt. The volume was, however, 600,000 mt below levels at the terminal a year earlier.
OVET Dry Bulk Terminal in Vlissingen (Flushing) had 320,000 mt of coal in stock Monday, falling 13,000 mt from levels seen the previous week and dropping 141,000 mt compared to the same week in 2015.
European-delivered thermal coal spot prices have seen reductions of more than $1 in the past week, as the market cooled down in the run-up to the Easter holiday, when some of the rise on a more bullish economic outlook reversed.
Platts 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 $44.25/mt Tuesday, falling $1.25 on the week.
