Week 13 2024

AlbionDesign GmbH                                                      week 13/2024

Economically Ecological                               

€/$                        :   1.08266                         API 2 Front month       $114.65                      TTF Front month      €27.55

EUA DEC 24         :   €57.30              EUA DEC 25                  €59.53                         TTF summer            €27.815

Quite a muted a week overall. Ramadan, Easter, low demand. A lot of thumb twiddling taking place.

 Prices:  

·                     Sunflower Husk Pellet - EU Production:      €Black Sea -€5

·                     Russian Sunflower Husk Pellet CIF Med      $

·                     Russian Sunflower Husk Pellet FOB Baltic  €

·                     SBP Wood pellet CIF ARA                               $ 

·                     Wood pellet A1 FOB Baltic                             €

·                     Certified PKS (dura) FOB Indonesia              $ -US5$ on tenera

·                     Spent olive wastes FCA Spain                        €

·                     Baltpool Woodchips - :Lithuania €17.46/MWh :Latvia €23.2/MWh :Estonia €15.1MWh

Freight:

·                     Baltic Coaster – ARA :                 € on 3/4kt      

·                     Black Sea Coaster :                      $ on 3/4kt                           

·                     Azov-Marmara :                           $ on 3/4kt                    

·                     Handys/Supras :                    roughly $k per day                                                              

Overview:

·                     Small volumes continue to trade at similar levels to previous weeks.

·                     Larger ships are still struggling to find a floor.

Demand:

·                     Demand is driven by price. With coal and gas higher, those that can switch easily and economically, will

·                     With so many industries serving one another, a big boost would come from increased EU steel production.

Into ARA on the densified biomass deduct $1+- for every additional 1kt as there is a freight saving.

Links and interesting reading:

·         https://www.hellenicshippingnews.com/baltic-index-hits-near-one-month-low-as-rates-drop-for-all-segments/

·         https://www.tradewindsnews.com/containers/how-baltimore-bridge-disaster-threatens-to-leave-key-global-shipping-markets-frozen-in-time-/2-1-1617929

·         https://oilprice.com/Metals/Commodities/Iron-Ore-Futures-Take-a-Hit-as-Chinese-Demand-Wavers.html

·         https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/032724-oil-futures-crude-lower-on-china-stimulus-uncertainty-opec-decision-awaited

·         https://www.ft.com/content/c847251c-0940-46b3-899c-5e38e720d484

Numbers subject to change. These figures are indications and in no way a confirmation on tradable prices. For reference only.