Bloomberg reported that as coal exports from Australia to Colombia increase, a rally that has lifted prices for the fuel will come to an end. As a result, the coal surplus will increase by 20 percent, to 6 million metric tons, in 2014, according to Credit Suisse Group AG (NYSE:CS).
Articles Tagged "Credit Suisse"
Bloomberg reported that the price of coal for 2014 delivery to Amsterdam-Rotterdam-Antwerp dropped to $88 per metric ton, its lowest price since the contract started trading in January 2010, after Credit Suisse Group AG (NYSE:CS) cut its forecast for the region's fuel and electricity costs.
Canacol Energy Ltd (TSX:CNE, BVC:CNEC) announced that it has entered into a credit agreement in the amount of US $140 million senior secured 5-year loan with a group of banks led by Credit Suisse along with Citibank, Corpbanca, and Export Development Canada.
Bloomberg reported Credit Suisse Group AG dropped its price forecast for thermal coal at Australia's Newcastle port to an average of $98 a metric ton.
With booming demand and a growing global community of market participants, coking coal swaps signal an evolution in the coal marketplace.
Various natural disasters, coupled with continued demand growth from emerging markets, have supported strong prices of both thermal and metallurgical coal markets in 2011, but expect prices to slide in Q4.