CSX stirs up coal swaps as prices edge up

IN ANOTHER sign of renewed confidence across the domestic coal sector, CSX resumed coal swap trading Tuesday after two sessions of abstaining from US over-the-counter markets.
CSX stirs up coal swaps as prices edge up CSX stirs up coal swaps as prices edge up CSX stirs up coal swaps as prices edge up CSX stirs up coal swaps as prices edge up CSX stirs up coal swaps as prices edge up

Image courtesy of CSX

Justin Niessner

The news coincides with an encouraging report from the federal Energy Information Administration that predicts coal-fired electricity generation will increase 9% next year as natural gas loses its price advantage.

The coal rail shipper reportedly pushed the price of central Appalachian thermal coal higher in low-volume Tuesday swap deals.

According to a report by Platts, CSX coal swaps were limited to 2013 contracts with flat spreads between 2013 CSX financial and physical contracts.

The report found CSX financial Q1 2013 traded at $62.75 per ton for 5000t and CSX financial Q2 2013 traded at $64.10 per ton for 5000t.

Tuesday trading was reported to reflect modestly higher barge prices on low turnover. Q1 2013 traded at $60.25 per ton for five barges at $60.75 per ton for five barges three times.

Q2 2013 traded at $63 per ton for 20 barges and five barges three times while Q3 2013 traded at $65.25 per ton for five barges and at $65.40 for 20 barges.

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