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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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- White Energy Company Limited
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
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- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
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