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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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Showing 1411 to 1415 news of total 6846 |
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- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
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