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Pulse of Charcoal - July 3
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 continued to rise above $ 120 / t. Gas indices on the European TTF trading floor rise to 35.1 EUR / MWh
(+3.9 EUR / MWh by 23.06.2021) amid seasonal demand for electricity and a decrease in the supply of liquefied natural gas (LNG) to the EU, which contributes to an increase in coal combustion by local power plants. The downturn in wind power in a number of European countries provides additional support to coal prices. Generation from windmills in Europe fell to 670 GWh (-432 GWh by May 2021). In addition, the market reacted positively to the news about the consolidation of 100% of the Colombian company Cerrejon by the international mining holding Glencore. On June 28.06.2021, 66, Glencore acquired XNUMX% in Cerrejon from BHP and Anglo American and became the sole owner of the company.
Despite the weakening demand from Indian generating companies, the price of South African material exceeded $ 114 / t. as a result of the limited supply of material for export. According to market participants, a number of companies from India are counting on a decrease in quotations of imported coal from South Africa in the short term. Despite the plans of the South African rail operator Transnet to begin repair work in August, market participants are already observing a decrease in cargo flow towards the port of Richards Bay.
The suspension of some coal mines by the Chinese government ahead of public holidays helped stabilize the domestic coal price of 5500 kcal / kg NAR at Qinhuangdao port at $ 152 / t. In the largest mining province of Shanxi, from June 24.06.2021, 05.07.2021 to July 128, 186, XNUMX mines with a total capacity of XNUMX tons of coal per year were suspended.
There is a shortage of Australian material on the APR market, which has a positive effect on the steam coal indices of Australian producers above 135 USD / t. The shortage of material on the market is due to a recent accident on a branch rail line between the Dalrymple Bay coal terminal and the Australian coal producing provinces, preventing a recovery in Australian coal supplies. In addition, the rainy season in northeastern Australia could start earlier this year, according to experts, prompting generators from Japan and South Korea to increase their purchases of Australian coal on the spot, further reducing stocks of material at the terminals.
Limited supplies of Indonesian coal for export support the indices of high-calorie material above $ 102 / t. Due to torrential rains in southern Indonesia and outbreaks of Covid-19 at a number of enterprises, some Indonesian producers are forced to declare force majeure and the inability to ensure the supply of the minimum volume of coal under the contracts.
Australian coking coal prices exceeded $ 195 / t. due to limited supplies of material to the export market and the growing demand for metallurgical plants in the APR. Market participants note that Chinese steel companies have sharply increased their purchases of Australian material from traders in the Asia-Pacific region due to a decrease in the supply of coking coal from Inner Mongolia amid new outbreaks of Covid-19 and the suspension of some mines ahead of public holidays.
Kuzbassrazrezugol plans to buy the Aleksievskaya mine
On June 28, 2021, Kuzbassrazrezugol (KRU) offered to buy the bankrupt Aleksievskaya coal mine, owned by the Polysaevskaya coal company. Previously, 99% of the mine's creditors voted to satisfy the proposal. According to the Minister of the Kuzbass Coal Industry Oleg Tokarev, KRU undertakes to pay off the salary debts of the mine, maintain the current number of miners and take measures to prevent a possible environmental disaster.
Prevention of an environmental disaster means timely pumping out of water from the Aleksievskaya mine. In the event of flooding, water can pass through the coal seams to other mines. The Baikimskaya mine, owned by KRU, is located directly under the Aleksievskaya coal seams.
In 2020, the Aleksievskaya coal mine produced 0.14 million tons of thermal coal (-1.25 million tons by 2019). In February 2021, the mine was auctioned for the sixth time in the form of a public offer at an initial price of RUB 600 million. ($ 8.2 million). Applications are accepted until July 10, 2021. At the end of March 2020, production at the mine was suspended. In 2017, bankruptcy proceedings began against the Aleksievskaya mine as a result of the bankruptcy procedure, which began against the background of low profitability of coal mining at the mine.
Kuzbassrazrezugol is the second largest coal producer in Russia, owned by the Ural Mining and Metallurgical Company (UMMC). The KRU includes: Kedrovsky, Mokhovsky, Bachatsky, Krasnobrodsky, Taldinsky, Kaltansky open-pit mines, as well as the Baikimskaya coal mine In 2020, the company produced 43.2 million tons (-3.8 million tons or -8.1% by 2019). On June 25, 2021, KRU purchased the Taldinsky-Zapadny coal mine from TalTEK.
Zarechnaya mine sold at auction
On July 01, 2021, Power of Siberia won the tender for the sale of the Zarechnaya mine in Kuzbass. The transaction price was RUB 1.8 billion. ($ 24.4 million).
The property complex of the Zarechnaya mine has been put up for auction for the fifth time. For comparison, for the first time at an auction in 2018, Zarechnaya property was offered at a starting price
RUB 16.74 bln ($ 226.9 million). During the last auction in May 2020, no bids were submitted. The property complex of the mine includes property at an initial price of 1.5 billion rubles. ($ 20.3 million), including assets in the amount of RUB 643 million. (8.7 million dollars), pledged to the main creditor of the mine - the company Ugletrans.
The Zarechnaya mine has been in bankruptcy proceedings since the end of 2017. The mine produces energy-grade coal. The Oktyabrsky section, which is part of the Zarechnaya mine, does not produce coal due to massive personnel reductions in May 2020. 2020).
Power of Siberia is a cargo transportation company registered in 2018.The company is owned by Boris Guttsov, the main shareholder of the Port Infrastructure Development Center (PIDC). CRPI owns 24.79% of the port of Sukhodol in the Russian Far East and 30% in the project for the construction of the port of Lavna in the Murmansk region.
Putin instructed to determine those responsible for the delay in the expansion of BAM and Transsib
Photo: JSC "Russian Railways"
On June 5, 2021, Russian President Vladimir Putin instructed the government and Russian Railways to determine the responsibility of officials for the delay in the implementation of the project to expand the Baikal-Amur (BAM) and Trans-Siberian (Transsib) railways. A number of government agencies will check whether the allocated funds have been spent on needs related to the expansion project. Although the first stage of development of BAM and TransSib up to 144 million tons of cargo turnover was implemented a year ahead of schedule in 2020, investments in the construction of critical facilities were not fully utilized due to problems with contractors and personnel.
On May 21, 2021, during a government meeting chaired by First Deputy Prime Minister Andrei Belousov, seven infrastructure projects were selected for the amount of
4.9 trillion rub. ($ 66.7 billion) to be co-financed by the National Wealth Fund (NWF). One of the key infrastructure initiatives selected during the meeting was the third stage of modernization of the Baikal-Amur (BAM) and Trans-Siberian (Transsib) railways.
The expansion of BAM and Transsib includes three stages. The first stage provides for an increase in the throughput capacity for all cargo to 144 million tons by 2021. The implementation of the second stage will increase the throughput capacity for all cargo to 180 million tons per year until 2024. Development of the Yakutsk cluster to ensure an increase in coal exports from Yakutia to Far Eastern ports of Russia are the third stage of modernization of BAM and Transsib. The total costs for the third stage of modernization with the construction of electrified tracks may amount to RUB 700 billion. ($ 9.5 billion).
Energougol open pit in Kuzbass declared bankrupt
On June 30, 2021, the Arbitration Court of the Kemerovo Region declared the Energougol coal mine owned by Vasily Eremeev and Leonid Chaplygin bankrupt.
According to the materials of the insolvency case, the creditors of the enterprise are: the manufacturer of mining equipment RusTEK, the Bungurskiy-Severny coal mine and the Mining Technologies company, wishing to collect 166 million rubles. ($ 2.2 million).
Energougol open pit is a coal mining enterprise located in Kuzbass. In 2020, work at the mine was suspended for 3 months due to non-compliance with design documentation. In 2020, the production of the coal mine amounted to 0.04 million tons (-0.46 million tons by 2019).