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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, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- The University of Queensland
- PTC India Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
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