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 Shipments from Russia have below average sailing distance, but they have been replaced by shipments with similar distances.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