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Pulse of Charcoal - September 18
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
Last week, steam coal quotations in Europe remained above $ 170 / t. Coal prices in the EU are supported by gas indices, which are updating all-time highs against the background of low reserves in European storages. Due to the more attractive gas prices in Asia, LNG suppliers are increasing supplies to this region, thereby creating a supply shortage in the European gas market. The cost of October futures on the European TTF trading platform reached 834 USD / 1 m3 (+144 USD / 1 m3 by 08.09.2021) or 71.20 EUR / MW ∙ h (+14.85 EUR / MW ∙ h to 08.09.2021/4.6/0.2) against the backdrop of decreased wind power generation in the EU. Coal reserves at ARA terminals amounted to 08.09.2021 million tons (-2 million tons to XNUMX). According to experts, the current gas quotes are overstated due to speculation caused by uncertainty about the timing of the commissioning of Nord Stream-XNUMX.
Quotes of the South African material continued to strengthen above $ 157 / t. against the backdrop of problems with the supply of material on the railway line connecting the coal-mining provinces of South Africa with the port of Richards Bay. Material stocks at Richards Bay terminals increased to 3.2 million tons (+0.1 million tons to 08.09.2021).
In China, the prices for domestic coal of 5500 kcal / kg NAR in the port of Qinhuangdao exceeded $ 190 / t. The growth of coal prices in the Chinese domestic market continued due to the limited supply of material. On September 10.09.2021, XNUMX, the PRC Development and Reform Commission (NDRC) met with major coal producers and energy companies to increase supply and stabilize prices in the coming months.
The Chinese government has restricted rail traffic and coal mining in Shaanxi province in connection with the National Games (September 15-27.09.2021, XNUMX).
The high-calorie Australian coal index rose above $ 180 / t. Strong trading activity by Asian consumers, who are restocking stocks ahead of the winter season, has positively impacted the Australian material indices.
Indonesian material quotes
5900 kcal / kg GAR continued to rise above $ 135 / t. against the background of the state of emergency introduced in the country from 04.09.2021/17.09.2021/XNUMX to XNUMX/XNUMX/XNUMX due to heavy rains and floods, which also became the cause of force majeure announced by a number of local mining companies.
The limited supply of coking coal by key coal-mining countries, as well as high prices in the PRC domestic market, are forcing Chinese steel mills to buy Australian material from Asian traders, which positively affects the quotes of the Australian material, which has strengthened above $ 350 / t.
Sibanthracite, Stroyservice, Telf AG and EP Resources AG will provide coal transshipment in the port of Lavna
The shippers confirmed their readiness to secure the cargo base of the port of Lavna, according to the press service of the Russian government following a meeting chaired by First Deputy Prime Minister Andrei Belousov.
According to a previously concluded take-or-pay contract, the Port Infrastructure Development Center JSC (CPDI) confirmed its readiness to provide a cargo base in the amount of 18 million tons from 2024 at a transshipment rate of $ 7.5 / t. due to the transshipment of volumes of coal by the companies Sibanthracite, Stroyservice, Telf AG and EP Resources AG, which have entered into supply agreements with the CRPI.
The press service of the government of the Russian Federation noted that the working traffic on the section of the Vykhodnoy-Lavna railway line, as well as the port of Lavna, should be launched in December 2023.
The construction of the Lavna seaport started on September 16.09.2021, XNUMX, according to the press service of the government of the Murmansk region.
CRPI (also owns 24.79% of Sukhodol Sea Port LLC in the Primorsky Territory) owns 60% of Lavna. SDS-Ugol by Mikhail Fedyaev, JSC RZD-Infrastructure Projects and GTLK (the project concessionaire) own shares of 25%, 10% and 5%, respectively.
The government does not support the project of the private railway A-Property
The government did not support the project proposed by Albert Avdolyan's A-Property company for the construction of a new non-public railway Elga-Chumikan, autonomous from the Baikal-Amur Mainline (BAM), to export 30 million tons of the company's coal from Elga. As an alternative, the government offered to expand BAM for 332.6 billion rubles. (4.6 billion dollars) at the expense of the investment program of the Russian Railways (RZD) and the National Welfare Fund (NWF), which will allow exporting coal not only from the Elga, but also from the Denisovskoye, Chulmakanskoye, Neryung-Rinskoye and Sugodinsko-Ogodzhinskoye deposits. The construction period is planned for 2023–2027, with commissioning from 2028.
Earlier, Elgaugol, a subsidiary of A-Property and the state corporation Rostec, offered to build a new private railway line between the Elginskoye coking coal field and the Sea of Okhotsk for 97 billion rubles. ($ 1.3 billion), provided that the company receives priority access to BAM for the transportation of 30 million tons of coal per year. The railway line with a length of about 500 km provides for a throughput capacity of 30 million tons per year. The project is expected to be completed in 5 years.
The A-Property initiative has caused discontent among coal-mining regions, as the priority transport of coal from Elga would violate the principles of non-discriminatory access to rail infrastructure. Given the limited capacity of BAM, Elgaugol supplies could lead to a 20 million ton reduction in annual coal exports from Buryatia and Khakassia, where the successful operation of coal enterprises is important for social stability and local budget revenues. In addition, the construction of the railway line may be delayed or not completed at all, while the company will benefit from priority access to BAM.
Nevertheless, A-Property does not intend to abandon the project of the Elga-Chumikan railway line, planning to build it on its own to transport coal volumes exceeding the current capacity of Russian Railways.
The construction of the port of Indiga has been postponed to the end of 2024.
AEON Corporation, owned by Roman Trotsenko, has postponed the start of construction of the Indiga deep-water port until the second half of 2024. Earlier, the construction of a port at Cape Rumyanichny in the Nenets Autonomous Okrug was planned to begin in 2023. The project cost is estimated at 300 billion rubles. (4.11 billion dollars). It is expected that the port of Indiga will be able to handle about 80 million tons of various cargoes, including coal, timber and fertilizers for consumers in Northeast Asia.
According to the owner of the AEON corporation Roman Trotsenko, the project is currently at the stage of development, the project documentation must undergo an examination. At the same time, the construction of an expensive railroad to the port is still in question.
AEON is an international investment fund with a wide portfolio of transport projects, including airports and river ports. In August 2021, the Severnaya Zvezda company, owned by the AEON corporation, began construction of the Yenisei seaport located in Taimyr. The new coal terminal with a capacity of 7 million tons is part of the Syradasay coal field development project (see CAA Russian Coal Weekly, 03 September 2021).