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Pulse of Coal - October 16
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
The European coal market remains volatile due to uncertainty in the gas market and a continuing imbalance in supply and demand, exacerbated by coal shortages in India and China. Paper contracts on the TTF hub exceeded $ 1200 / thous. m3. The colder than usual temperatures in the EU are hindering the build-up of gas reserves in Europe.
On October 13.10.2021, XNUMX, Russian President Vladimir Putin spoke out about the energy crisis in Europe, stating that current gas prices are the result of "systemic deficiencies in European energy" and that Russia is ready to meet the EU halfway and discuss an increase in gas supplies to Europe.
Last week, South African material indices renewed their all-time highs, reaching $ 245 / t. against the backdrop of high trading activity of consumers from Europe and the Asia-Pacific region, who are seeking to replenish stocks ahead of the winter season. An additional factor behind the rise in prices is the problems with the railway line connecting the coal-mining provinces of South Africa and the port of Richards.
On October 12.10.2021, XNUMX, SUEK announced force majeure for the loading of coal at the export terminal of the port of Vanino after a fire destroyed a conveyor belt.
Due to a shortage of coal and recent floods, China's largest coal-mining province, Shanxi, has been forced to introduce electricity rationing.
Australian material quotes are in an uptrend above $ 250 / t. amid high trading activity from Asian traders who sell Australian material to Chinese generators.
Indonesian material quotes rose above $ 208 / t. against the backdrop of a shortage of coal in India and China, it continues to contribute to the growth of quotations of the Indonesian material.
Indonesian coal producers are struggling to ramp up material production amid rising demand as Asian economies recover from the COVID-19 crisis. The recovery in production was hampered by heavy rains in South and East Kalimantan in September, as well as problems with logistics, infrastructure and lack of funding.
The high demand of metallurgical plants in the Asia-Pacific region against the background of a shortage of imported coking material in the region had a positive effect on the dynamics of quotations of coal from Australia above $ 400 / t.
SUEK announced force majeure in connection with a fire at the terminal in Vanino
On October 11, 2021, a fire broke out at the Daltransugol terminal, owned by SUEK, as a result of which the loading of coal onto ships was suspended. The fire damaged the conveyor, making it impossible to continue handling coal in the port.
SUEK announced force majeure the day after the fire. According to the CEO of SUEK, Stepan Solzhenitsyn, the port accepts supplies of coal by rail on a schedule, the failure is observed only when coal is loaded onto ships. "There is indeed a slowdown in the courts for several days. We will catch up later," Solzhenitsyn said.
The total capacity of the Daltransugol terminal is 24 million tons per year. In the first 9 months, the port handled 15.3 million tons of coal (-2.3 million tons or -13% compared to January-September 2021).
Elgaugol gained control over assets
Elgaugol took over the management of the port of Vera and the Ogodzhinsky coal company. The company should also enter the capital of these assets, becoming a partner of Rostec, but the deal has not yet been closed.
The coal sea terminal port of Vera is located in the area of the Otkryty Cape of the Primorsky Territory. In 2019, the first stage of the project was put into operation, in 2021 it is planned to complete the second. In 2022, the terminal's cargo turnover should grow to 7 million tons, in long-term plans - up to 20 million tons.
Since 2015, the Ogodzhinsky Coal Company has been developing the Sugodinsko-Ogodzhinskoe deposit in the Amur Region - the largest in the Far East with total reserves and resources of 2,8 billion tons of G, CC, T and A grades of coal. Cargo from the deposit is transported through the ports of the Far East, including through the port of Vera. Earlier it was reported that production at the Ogodzhinskoye field is planned to increase production from 1 million to 10 million tons by 2023, but now production there is still 200 thousand tons per year.
Sibanthracite began exporting coal along the Northern Sea Route
Sibanthracite sent the first ship from the port of Ust-Luga (Yug-2 terminal) along the Northern Sea Route (NSR). Bulk carrier Roland Oldendorff will supply 99.2 thousand tons of atracite to the South Korean metallurgical company. Delivery by the NSR should take 12 days less than by alternative routes from the Baltic ports through the Suez Canal.
Photo: Sibanthracite group
Sibanthracite intends to continue supplying coal through the NSR in 2022 (from June to September, the NSR is ice-free), since the route is economically viable for the company.
According to the government's plans, the supply of goods through the NSR should grow to 80 million tons by 2024. This year the volume of supplies will be about 33 million tons. It is expected that year-round navigation along the NSR will become possible in 2022-2023.
Russian exporters have increased coal supplies through the ports of Finland
Russian exporters are systematically increasing coal supplies through the ports of Finland. For 9 months of 2021, exports increased to 1.1 million tons, which is 0.7 million tons higher than the results of the same period of the crisis in 2020, and also by 0.2 million tons higher than the results of the pre-crisis 2019.
In the current year, supplies increased Sibanthracite (+ 41% to 606 thousand tons) and Donugol (+ 58% to 124 thousand tons). Among the largest suppliers is also MC Sibirskaya, which delivered 9 thousand tons in 129 months. In addition to these companies, coal was also sent to the ports of Finland by the Arshanovsky, Sibuglemet, Gramoteinskaya and a number of others.
The main port in Finland for the export of coal is the port of Kokkola. Small quantities can also be shipped through the ports of Koverhar and Loviisa.