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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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Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
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