Three delivery terminals in western Europe's Amsterdam-Rotterdam-Antwerp trading hub had combined coal stocks of around 3 million mt Wednesday, holding more or less steady on the week, several port sources said.
At 3 million mt, stocks were a marginal 0.34% higher over the week, with only one facility showing a slight build.
The volume was down 40% -- or around 2 million mt -- year on year and marked the 13th consecutive week when stocks have hovered around 3 million mt.
The OVET Dry Bulk Terminal in Vlissingen was the only facility to show a slight build over the week, with 270,000 mt of coal on stock Monday, up just 10,000 mt from the previous week and dropping 66,000 mt compared to the same week in 2015.
According to port sources, coal stocks at the EMO Dry Bulk Terminal were steady at 1.6 million mt Wednesday, with a build expected in the coming week owing to slow reloading activity on to barges.
"The utilities are not burning much coal during these days, and renewable generation is strong; there is a lot of sun in Germany," a source said.
Stocks at OBA Bulk Amsterdam's terminal were also steady for the fourth consecutive week at 1.1 million mt, the lowest on record for the facility according to S&P Global Platts data.
"We had seen a build in deliveries but the material is going straight out of the port again," a source said. "We expect a normal program for the rest of the month really, I don't see many more arrivals."
A total of 39 trades totaling around 2 million mt for physical delivery into ARA in August had taken place over June and July according to Platts records, while port stocks had largely remained static around 3 million mt through the month thus far.
European-delivered thermal coal spot prices had edged back from recent highs in the past week, with sources noting that upward momentum in Asia that had largely driven the recovery was showing signs of slowing.
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 $59.25/mt Tuesday, down $2.10 on the week.
