A slow and steady decline with red candles almost every day, continuing the decline from the week before With October coming to a close EUAs have seen four straight months of decline from highs of €93.50 in June to current prices of €80 Sentiment on EUAs is far from positive even as TTF natural gas prices roll on from the November contract to December pricing of around €50 MWh Talk in the market is of the August EUA futures contract replacing the March futures as the second most liquid contract after December as EC confirm the adoption of regulation (pending formal adoption by the European Council and Parliament) for the extension of the annual compliance deadline from April 30th to September 30th.
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The information contained within this report is given in good faith based on the current market situation at the time of preparing this report and as such is specific to that point only. While all reasonable care has been taken in the preparation and collation of information in this report Hecla Emissions Management (and all associated and affiliated companies) does not accept any liability whatsoever for any errors of fact or opinion based on such facts.
Some industry information relating to the shipping industry can be difficult to find or establish. Some data may not be available and may need to be estimated or assessed and where such data may be limited or unavailable subjective assessment may have to be used.
No market analysis can guarantee accuracy. The usual fundamentals may not always govern the markets, for example psychology, market cycles and external events (such as acts of god or developments in future technologies) could cause markets to depart from their natural/usual course. Such external events have not been considered as part of this analysis. Historical market behaviour does not predict future market behaviour and shipping is an inherently high risk business. You should therefore consider a variety of information and potential outcomes when making decisions based on the information contained in this report.
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