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Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
 During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistical challenges started to emerge. Two years after the start of the war in Ukraine, sanctions on Russia are limiting the country’s ability to export coal.
A significant portion of Russian coal is sourced from Siberia and transported to Russian ports by rail. Since the start of the war in Ukraine, railways in Russia have been under pressure as sanctions pushed Russia’s coal exports eastwards. In 2023, China was the destination for 41% of Russian coal shipments.
Sanctions on Russia have added further pressure to logistics, culminating in lower effectiveness and reliability of railway transport since October 2023. Russian railway transport is reported to be challenged with difficulties in securing imports of spare parts such as specialized lubricants, proprietary bearings and electronic components. Efforts to circumvent this issue by replacing imports with domestic equipment have fallen short, as these substitutes are often of lower quality.
The overall impact of poor Russian logistics on the dry bulk market seems to be marginal, as global coal supply is ample. In the period since October 2023, global coal shipments have increased by 7% y/y despite the loss of Russian coal. Consequently, it seems that Russia is bearing the brunt of the impact.
The impact of lower coal shipments on sailing distances also seems to be residual. Shipments from Russia have below average sailing distance, but they have been replaced by shipments with similar distances.
Despite the obstacles that Russia is facing, the government seems determined to boost coal exports to China. Russia is working to increase coal mining and remove bottlenecks in their infrastructure. Two major railways in Siberia will be electrified and an agreement was reached to build a new railway bridge between Russia and China. If Russia is successful, exports over land to China could increase, replacing some of Russia’s coal shipments.
Even as Russia invests in infrastructure, it is possible that total coal exports to China will not significantly increase. The IEA estimates that China’s coal demand may have peaked in 2023, limiting further export growth. Furthermore, it might be difficult for Russia to find new trade partners amid sanctions and competition from other exporters such as Indonesia and Australia.
Source: BIMCO
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
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- Economic Council, Georgia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
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