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Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Drewry believes this trade will have little or no impact on the demand for dry bulk shipping.
The Indian government plans to sharply lift the domestic production capacity of crude steel which could lead to even higher coking coal imports as it is a key raw material for steel production. The imports of coking coal have been rising over the past few years. While Australia is the predominant supplier of coking coal to India, accounting for around 80% of country’s imports of the commodity, the US and Canada supply the balance with Russia’s share at a negligible 1-2% annually. In 2020, the latter exported 1.2 million tonnes of coking coal to India.
As Indian steel mills are highly reliant on Australian coking coal, any disruption in the supply of the commodity in Australia could affect India’s steel production. The recent deal with Russia could be seen as an attempt by Indian coking coal traders to diversify their import portfolio and could eat into the share of Australian coal, leaving the shares of the US and Canada untouched.
Meanwhile, the Russian government plans to lift the country’s coal production to 668 million tonnes by 2035 from around 400 million tonnes in 2020 and thereby increase its presence in the Asian market. The country targets to lift its coal exports to 390 million tonnes from around 211 million tonnes in 2020, indicating that exports will rise by around 12 million tonnes per annum. In line with the country’s vison, some Russian companies such as Kolmar and Elga intend to ramp up their coal production volumes and port capacities.
Since Russia-India and Australia-India are predominantly Panamax routes, the impact of the recent deal on the demand for Panamax vessels will depend on the port that will supply coking coal to India. Russia has been exporting coal through Murmansk, Vanino, Vostochny and Ust-Luga, of which Vanino and Vostochny are almost equidistant from India, as is Australia, but Murmansk-India (and also Ust-Luga-India) is almost double the distance between India and Australia. As a result, for a given cargo volume, Murmansk-India and Ust-Luga-India should deploy twice the number of vessels than Australia-India, but for Vanino-India or Vostochny-India there will hardly be any addition in the overall vessel demand.
To estimate the influence of the Russia-India deal on vessel demand we assume that all four Russian ports will supply coal to India in equal quantities. At the speed of 11 knots, 40 million tonnes of coking coal trade on Russia-India would employ 94 odd Panamax vessels whereas the same cargo volume on Australia-India would need 66 Panamaxes, implying an increase of 28 Panamax vessels annually.
However, we believe the entire agreement between Russia and India for 40 million tonnes of annual coking coal trade will be difficult to materialise. The share of coking coal in Russia’s overall coal exports has been limited to 12-14% over the past five years. This means that even if the country’s coal exports will rise by 12 million tonnes per annum, coking coal exports could rise by just 1-2 million tonnes annually.
Moreover, even if the country is able to meet the agreed quantity, it seems that Russia would supply a major proportion of the coking coal through port Vanino as the country’s major coal companies are increasing their coal handling capacity at this port. While Kolmar group plans to lift the annual coal handling capacity of the VaninoTransUgol terminal by 12 million tonnes by 2023, Albert Avdolyan plans to construct a coal terminal at Vanino with annual handling capacity of 30 million tonnes. As mentioned above vessel demand on Vanino-India will be no different from that on Australia-India and any shift of cargo away from Australia-India and towards Vanino-India will have little impact on dry bulk shipping demand.
Source: Drewry
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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
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- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- The University of Queensland
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
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