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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, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
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