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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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Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
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- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
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