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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 Shipments from Russia have below average sailing distance, but they have been replaced by shipments with similar distances.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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Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
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- Billiton Holdings Pty Ltd - Australia
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- The University of Queensland
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- Romanian Commodities Exchange
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- Posco Energy - South Korea
- Australian Coal Association
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- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
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- IEA Clean Coal Centre - UK
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- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
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- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
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- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
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- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
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- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
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- Siam City Cement PLC, Thailand
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- Economic Council, Georgia
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- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
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- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
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- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
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- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
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- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
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- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
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- Bayan Resources Tbk. - Indonesia
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