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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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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- ICICI Bank Limited - India
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- Neyveli Lignite Corporation Ltd, - India
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- Minerals Council of Australia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
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- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
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- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
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- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
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- VISA Power Limited - India
- IEA Clean Coal Centre - UK
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- Bhoruka Overseas - Indonesia
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- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
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- Therma Luzon, Inc, Philippines
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- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
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- Kapuas Tunggal Persada - Indonesia
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- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
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- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
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- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
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- MS Steel International - UAE
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
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