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 Shipments from Russia have below average sailing distance, but they have been replaced by shipments with similar distances.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