February 7, 2024 - Weekly US coal ship departures increased 52% from the previous week to 38 coal ships in the week ended Feb. 4, according to Feb. 6 data from Platts cFlow ship and commodity tracking software from S&P Global Commodity Insights.

The ships carried 2.2 million dwt of coal and unspecified cargo, up from 1.4 million dwt on 25 coal ships in the previous week. The top three destinations for the US coal ships in the latest reported week were India at 622,250 dwt; United Kingdom, 238,078 dwt; and Gibraltar, 229,948 dwt. The Port of South Louisiana loaded the highest volume among the US coal ports at 535,601 dwt, followed by Baltimore at 400,784 dwt. Lamberts Point rounded out the top three coal loading ports at 358,021 dwt, cFlow data showed.

FOB Baltimore 6,900 kcal/kg NAR coal for 15- to 60-day loading increased 25 cents on the session Feb. 6 at $81.10/mt. The assessment was based on market fundamentals and broker indications of value at $77/mt and $83/mt, tested in the market through 11:30 am ET.

Atlantic Coast coal ship departures rose 53.8% on the week to 20 ships. The ships carried 1.3 million dwt of coal and unspecified-type cargo, up from 829,966 dwt in the previous week. The bulk of Atlantic shipments were bound for India at 622,250 dwt, of which 361,953 dwt was loaded from Baltimore; 93,193 from Norfolk; 85,005 dwt from Bayonne, New Jersey; and 82,099 dwt from Lamberts Point. Brazil was scheduled to receive the second highest Atlantic-shipped volume at 157,273 dwt loaded from Lamberts Point. The United Kingdom rounded out the top three destinations at 145,149 dwt, of which 81,149 dwt was loaded from Lamberts Point and 64,000 dwt from Wilmington, North Carolina. Other top destinations for Atlantic coal were Cape Verde at 82,002 dwt; Italy, 53,506 dwt; and Denmark, 50,655 dwt.

Platts assessed FOB Baltimore 6,000 kcal/kg NAR coal 20 cents higher on the session at $70.50/mt Feb. 6, based on a heat-adjusted FOB Baltimore 6,900 kcal/kg NAR price at $81.10/mt.

Gulf Coast coal ship departures more than doubled on the week to 14 coal ships. The ships carried 795,991 dwt, up from 346,527 dwt the week before. Gibraltar, a bunkering point for vessels traveling to Asia destinations, was the top destination for Gulf Coast shipments at 192,44 dwt, with 110,482 dwt loaded from Davant and 81,962 dwt loaded from the Port of South Louisiana. The UK followed at 92,929 dwt loaded from the Port of South Louisiana. Singapore was scheduled to receive 81,966 dwt in Gulf Coast shipments loaded from the Port of South Louisiana. Other leading destinations included China at 76,596 dwt; Brazil, 63,193 dwt; and Mauritius, 61,569 dwt.

FOB New Orleans 6,000 kcal/kg NAR coal rose 25 cents on the session Feb. 6 at $77.10/mt, according to the Platts assessment by S&P Global Commodity Insights. The assessment was based on market fundamentals and broker indications of value at $72/mt and $80/mt, tested in the market through 11:30 am ET.

West Coast coal ship departures declined 33.3% on the week to four coal ships. The ships carried 90,223 dwt, down from 272,101 dwt the week before. Japan was the primary destination for West Coast coal shipments, of which 33,260 dwt was loaded from Stockton and 15,261 dwt loaded from Hueneme. South Korea followed at 22,582 dwt loaded from San Diego. Taiwan was scheduled to receive 19,120 dwt loaded from San Francisco.

Platts assessed the FOB West Coast North America 5,750 kcal/kg NAR netback 40 cents higher on the session at $103.55/mt Feb. 6, based on the Platts NEAT price at $118.63/mt minus $15.10/mt Panamax shipping from Roberts Bank, Canada, to Japan.