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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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Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
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