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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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Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- White Energy Company Limited
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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