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 Shipments from Russia have below average sailing distance, but they have been replaced by shipments with similar distances.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