Seaport Global analysts project sharp drop in U.S. thermal coal exports in 2019 and 2020

first_imgSeaport Global analysts project sharp drop in U.S. thermal coal exports in 2019 and 2020 FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($): U.S. thermal coal exports are expected to fall as much as 12% in 2019 and 25% in 2020 given the declining Northern European delivered price, which will put pressure on the U.S. utility and lower-grade U.S. metallurgical prices, Seaport Global analysts wrote April 8.Since October 2018, when the S&P Global Platts CIF ARA was assessed above $100/t, the price front-month CIF ARA price has dropped about 47% to $55.05/t on April 5. The price level for healthy U.S. exporters, Seaport senior analyst Mark Levin and senior associate analyst Nathan Martin wrote, is between $80/t and $90/t, based off the API2 price, with $75/t as the lower limit to keep exports afloat.On April 5, the analysts noted an API2 price of $74/t.Several U.S. producers have locked in tons into the export market at fixed prices, but “a lot of coal that was previously targeted for the export market could find its way back into the U.S. domestic utility market later [in 2019] and in 2020,” Levin and Martin wrote, which would put extra pressure on U.S. utility prices in heavy thermal export regions such as Northern Appalachia and the Illinois Basin.Approximately 54 million tonnes were exported into Europe and Asia when the front-month price averaged $92/t for the year, compared with exports averaging 35 million tonnes in the preceding five years when the price averaged $72/t.Levin and Martin listed a mild winter in Europe, weak natural gas prices, restriction in Australian imports into China, along with more Russian coal making its way into Europe as reasons why the price has dropped so significantly.More ($): Seaport: Falling U.S. thermal coal exports to put pressure on local utility marketlast_img read more

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Bermuda’s Jessica Lewis Wins 400 Gold at Parapan American Games

first_imgLIMA, Peru, CMC – Bermudian wheelchair sprinter Jessica Lewis made a scintillating start to the Parapan American Games on Saturday, storming to victory in the women’s T53 400 metres final ahead of two Americans to win gold.Lewis executed the perfect race, making a flying start and finishing in a time of one minute, 05.95 seconds, a second faster than Yen Hoang, of the United States, who came second in 1:02.95. Kelsey Le Favour, of the US, placed third in 1:02.97.Lewis is eyeing a sweep of medals in all three of her events in Lima and will return to action in the 800 final on Monday.“It’s such an honour to bring home a gold medal again to Bermuda,” said Lewis, the reigning Parapan Am T53 100 champion.“I felt like I had a great chance of winning the race, but I knew that it was going to be a fight with the US girls. I am quite thrilled that I managed to be that far ahead of them.”The gold medal represents a major breakthrough for Lewis, as she has often struggled for sustained power at the longer distances and believes her switch to a harder pair of gloves has made a huge difference.“I have transitioned into using the hard gloves which have definitely helped me get stronger in the longer-distance events,” she added.“I had the best start I have ever had in these gloves, so everything just came together for the race.”Lewis’ main race, the 100, will take place on Wednesday, with the 26-year-old hoping to shatter her Parapan Am record time of 17.67, which she set in Toronto in 2015.last_img read more

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Port Mourant residents, NDC staff continue protest against overseer

first_imgResidents of Port Mourant and staff of the Johns/Port Mourant Neighbourhood Democratic Council (NDC) on Thursday picketed the NDC office, demanding that the overseer be removed. This publication understands that the overseer is not on suspension, as the NDC Chairman had told the media on Wednesday.The protest started yesterday when staff turned up at the NDC office and found the front door open. It had not been closed when Overseer Boodmattie Ramnarine left on Monday afternoon. Her office was locked.Residents of Port Mourant and NDC staff protesting in front of the NDC Office on ThursdayAt the NDC statutory meeting on Tuesday, she was asked to hand over the keys, but never did. When the workers turned up at the office on Wednesday and found that the rate collectors’ door was also locked and the overseer had the keys, advice was sought from the Ministry of Communities, and permission was given to break open that door.There have been complaints that persons were going to the office to make payments but were being turned away because staff had no access to that part of the building. “I received no information about the business of the overseer, and the business of the NDC is still suffering, to some extent. We have access to the rates collectors’ office, but most of the files and information are locked in the overseer’s office. We don’t have any access to that (office). The monies collected from since Monday have not been sent to the bank as yet. The overseer has some in her possession and some are in her office. It is the overseer’s responsibility to collect those monies and deposit (them),” NDC Chairman Ishwar Narinesammy said during Thursday midday’s protest.Overseer Ramnarine, who was once dismissed from the NDC and rehired under the current administration, had been suspended since her reappointment, but the Ministry of Communities overturned the suspension. The overseer has been accused of assaulting staff members, collecting revenue and not issuing receipts, and asking vendors to lie about the issue. Also charged with assault, the overseer showed up at the office yesterday afternoon, but the NDC Chairman says a file containing accusations of her physically and verbally abusing staff members has been sent to the ministry.The overseer showed up at the office during the afternoon hours, and began to work.last_img read more

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