Analysis Strong shipping industry driving Indian petcoke prices up in February 14 December, 2020 LATEST End-user Markets Bukhara refinery modernization Uzbekneftegaz and Axens accelerate refinery May 17, 2024 End-user Markets New era for Roraima Oil: Orinoco operations commence Pioneering venture in Venezuela's Oil industry May 16, 2024 MOST READ End-user Markets Lanqiao Petrochemical sparks petroleum coke surge Discover the latest boost in petroleum coke May 13, 2024 End-user Markets Turkestan oil refinery revolutionizes domestic market Discover the impact of Arys' oil refinery May 13, 2024 Analysis Strong shipping industry driving Indian petcoke prices up in February In February, India's West Coast average CFR prices for high and mid-sulfur petcoke registered a slight uptick compared to the previous month. According to CW Research's India Petcoke CFR Price Assessment, in February, prices for high-sulfur imported petcoke for the India CFR West Coast stood above $100 per ton, a modest increase compared to the previous month. Mid-sulfur imported petcoke prices also increased marginally, rising above the $113.50 per ton observed in January. Petcoke prices in the region are expected to remain stable in the upcoming months of 2018, on the back of a strong shipping industry coupled with high coal prices. Nevertheless, India has witnessed a decline in petcoke demand, as the commodity was banned in some states, and consumers remain cautious about further developments. As noted by Filipe Gouveia, analyst with CW Research: ÔÇ£2018 is showing signs of being a strong year for dry bulk shipping. The Baltic Dry Index remained above the 1000 mark for the first quarter of the year, usually the slowest one due to seasonality in the industry. That means the worst has already passed, with the rest of the year expected to register high freight rates, thus bringing petcoke CFR prices up.ÔÇØ When it comes to Reliance's gasification project, the outlook remains clouded with uncertainty. The company announced in its third quarter results that the project is expected to be commissioned in the first quarter of the year, and its effects remain largely unpredictable. The most likely strategy for the company is to stock up on the byproduct previous to the project starting date, reducing the amount of petcoke available domestically, thus translating into higher prices. Find out more here Free NEWSLETTER Please enable the javascript to submit this form FREE SIGN-UP Sign in Don't have any account? Create one SHOW Forgot your username/ password? Log in Terms Of Service Privacy Policy This site is protected by reCAPTCHA and Terms of Service apply Sign in as: User Registration * Required field Sign In Information Personal Information Agree Yes No Terms of Service:You consent that we will collect the information you have provided us herein as well as subsequent use of our platform to render and personalize our services, send you newsletters and occasionally provide you with other information. * Fields marked with an asterisk (*) are required. Register SaveCookies user preferencesWe use cookies to ensure you to get the best experience on our website. If you decline the use of cookies, this website may not function as expected.Accept allDecline allCW GroupNewsAcceptDecline