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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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Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
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