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Pulse of Coal - June 12
Coal industry - actual figures and facts. Partner project of the Modern Analytical Agency (CAA) and the EastRussia portal
Mining, logistics, prices, export - all that the coal industry in Russia and in the world lives on is concise and to the point - in a new partner project of the Modern Analytical Agency (CAA) and the EastRussia portal
A brief overview of the global coal market
Steam coal quotes on the European market are in an upward trend, exceeding the $ 115 / t mark. The planned decrease in the production of nuclear power plants in Germany from 8.1 GW to 6.8 GW in the period from June 10 to July 11, as well as high temperatures in a number of EU countries, have a positive effect on the coal indices of thermal coal in Europe, which reached multi-year highs. The price of natural gas on the European trading platform TTF rose to 28.2 EUR / MWh (+2.0 EUR / MWh by 02.06.2021). The cost of carbon dioxide emission quotas was 53.51 EUR / t. (+2.08 euro / ton by 02.06.2021). The decrease in the volume of wind generation in European countries to 509 GWh (-325 GWh by 02.06.2021) provided additional support to coal quotations. Coal reserves at ARA terminals remain at 5.0 million tonnes.
On June 04.06.2021, XNUMX, the Colombian coal producer Cerrejon announced the resumption of the blockade of the railway lines connecting the Cerrejon coal mines and the port of Bolivar by former employees of the company.
Last week quotes for the South African material strengthened over $ 115 / t. against the backdrop of increased demand from India.
The high demand for electricity, caused by high average daily temperatures in the PRC, has a positive effect on the indices of the Chinese material, having strengthened them over $ 114 / t.
China's National Development and Reform Commission (NDRC) is considering imposing price caps on thermal coal at mines and loading ports to prevent further price increases ahead of the peak demand season in July-August.
Quotes of the Australian material continue to strengthen above $ 124 / t. due to growing demand from generating companies in Japan, Taiwan and South Korea.
09.06.2021/6322/109.97 Australian mining company Glencore and Japanese generating company Tohoku Electric agreed to supply Australian coal FOB Newcastle 2022 GAR to Japan at a price of XNUMX USD / t. until March XNUMX
An abnormal drought in Taiwan, resulting in a reduction in hydroelectricity, has led to an increase in imports of Australian material. Taipower said new restrictions due to the outbreak of COVID-19 could further increase electricity consumption due to the country's measures to massively relocate employees to remote work.
On June 09.06.2021, 1, the Japanese company Soma Kyodo Power announced that it will resume power generation at the 1000 MW Shinchi 2021 coal-fired power plant in September 2021 after it was shut down in February 1 due to an earthquake. The Shinchi 4.5 power plant consumes XNUMX million tons of coal per year.
Demand from Chinese generating companies for Indonesian 5900 GAR material supported the indices over $ 93 / t.
Rising prices for steel products, an increase in the activity of large coal traders on the paper market, as well as the increased demand of some metallurgical plants in the Asia-Pacific region have a positive effect on the indices of coking material from Australia above $ 165 / t.
Australian producer Foxleigh, Japanese steel company Nippon and South Korean mining company POSCO have approved a benchmark for low-volatility PCI for Q2-2021 at $ 100 / t. FOB (no change to the price for Q1-2021).
Gazprombank received 100% of Port Vera and Ogodzhi as collateral
On May 28, 2021, the Russian state bank Gazprombank received a pledge of 100% of the Port Vera coal terminal in the Far East of Russia and 100% of the Ogodzhinskoye coal deposit. The pledge of assets is related to the loan agreement concluded between the bank, Port Vera holding and Ogodzhinsky energy holding.
On January 29, 2021, the Port Vera holding and the Ogodzhinsky energy holding consolidated 100% of the enterprises, having bought an additional 50% of the assets from the heirs of Dmitry Bosov. In February 2021, Rostec received a pledge of shares in the port of Vera and the Ogodzhinsky coal deposit from its partners in these projects - Dmitry Novikov (President of Rosengineering) and Ekaterina Lapshina (asset manager of A-Property owner Albert Avdolyan). Thus, at present, the state corporation is a key shareholder in the port of Vera and the Ogodzhinskoye field.
In March 2021, Rostec signed an agreement with A-Property, owned by Albert Avdolyan, on the main conditions for the transfer of the state corporation 5% in the Elga coal project. In January 2021, A-Property pledged 100% of Elgaugol (operator of the Elga coal deposit in Yakutia) to Gazprombank and Rosselkhozbank, as well as shares in Elga-Doroga and Elga-Trans (companies that manage the transport infrastructure of the Elga coal deposit project) - see CAA Russian Coal Weekly dated January 15, 2021.
The Ogodzhinskoye coal deposit is located in the Amur Region near the northern border with China. Proved coal reserves amount to 82.7 million tons, probable reserves - 662 million tons. The design capacity of the deposit is 30 million tons of coal per year.
Port Vera is a new coal terminal located in the Russian Far East. Last year, the terminal handled 2.6 million tons of coal. In January-May 2021, transshipment amounted to 1.8 million tons (+0.9 million tons or + 100% over the same period in 2020). The design capacity of the terminal is 20 million tons, which is planned to be reached in 2022.
State Corporation Rostec is a Russian state holding that controls assets in various fields. The holding is headed by Sergey Chemezov.
The conditions of the auction for the coal site Bogatyr were found to be contrary to the law
On June 2, 2021, following a complaint from Rostec, the FAS Russia recognized the additional terms of the auction for the Bogatyr coal site as contradicting the law. On April 23, 2021, the Federal Agency for Subsoil Use of Russia (Rosnedra) put up for auction a license to develop the Bogatyr coal mine located at the Gorlovskoye coal deposit in the Novosibirsk region. The mine's reserves are estimated at 300 million tons of anthracite.
The Bogatyr open pit is claimed by a subsidiary of the Rostec state corporation - RT-Bogatyr, established on April 19, 2021, and Eduard Khudainatov's CoalStar, presented at the auction by two companies - Bogatyr open pit (registered in March 2021) and Antares (established in 2015) ... In addition, the Tashebinsky open-pit mine, registered in 2007 in Khakassia and owned by Igor Markanov, will take part in the auction.
According to Rostec's complaint, the additional terms of the auction limit the pool of potential bidders. According to the conditions, the winner of the auction must guarantee the transportation of at least 10 million tons of coal per year along the Berdsk-Novoaltaisk railway line, adjacent to the Trans-Siberian Railway. Also, the company responsible for the development of the Bogatyr open pit will have to build at least five large-capacity specialized vessels for the export of coal.
The FAS also ordered to cancel the minutes of the meeting of the working group on the opening of envelopes with applications for participation in the auction and set a new date for its holding, not less than 14 calendar days from the date of publication of a new notice of the auction.
In 2020, production of anthracite in Russia amounted to 22.3 million tons (-0.4 million tons, or -1.8% by 2019), of which 11.9 million tons, or 53%, fell on Sibanthracite. According to preliminary estimates, the Bogatyr open pit may reach production volumes of 5-8 million tons in 2025-2030. Thus, the share of the Bogatyr open-pit mine may amount to a quarter of 30 million tons of Russian anthracite production in 2030. In this case, Bogatyr will become the second largest anthracite producer in Russia after Sibanthracite.
DTEK plans to sell coal mines in the Rostov region
On June 01, 2021, Maxim Timchenko, CEO of the largest Ukrainian coal mining and generating holding company, DTEK, announced plans to sell the company's coal assets in the Rostov region. According to Timchenko, the reason for the sale of the mines is the company's reorientation to green energy.
Photo: press service of the governor of the Rostov region
DTEK owns 13 coal mines and 4 processing plants in Dnepropetrovsk, Donetsk and Rostov regions. In the Rostov region, DTEK owns the Obukhovskaya mine with a production volume of 1.45 million tonnes in 2020 (+0.48 million tonnes by 2019) and the Dalnaya mine with a production volume of 0.95 million tonnes (-0.16 million tonnes). 2019). The total coal production by the company in 2020 amounted to 18.9 million tons.
DTEK is owned by Ukrainian entrepreneur Rinat Akhmetov, who also owns the Metinvest group of companies, which includes mining and metallurgical enterprises in Ukraine, the EU and the United States.
An explosion occurred at the coal mine of SUEK
On June 9, 2021, an explosion occurred at the Tugnuisky coal mine owned by SUEK, as a result of which one miner was killed and four miners were injured. Work at the open pit is currently limited due to the ongoing pre-investigation check.
Photo: Open-pit mine Tugnuisky JSC
In 2020, the Tugnuisky open-pit mine produced 15.4 million tonnes (+1.2 million tonnes or + 9% by 2019). In January-May 2021, the volume of coal production at the open pit reached 5.8 million tons (-0.4 million tons, or -6.5% compared to January-May 2020).
SUEK is one of the largest Russian coal companies. The asset portfolio of SUEK, owned by Russian businessman Andrey Melnichenko, includes 30 coal mining enterprises, 7 GOKs, the Daltransugol coal terminal in the port of Vanino, the Murmansk commercial sea port, the Siberian generating company and other enterprises. In 2020, SUEK's production volumes reached 101.2 million tons (-4.9 million tons, or -4.7% by 2019).