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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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Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
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- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- The University of Queensland
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
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