In July, reduced export volumes of Russian coal from European countries due to EU sanctions were redirected to China and India. In this regard, deliveries abroad remained almost unchanged by June. This is stated in the review of experts from the Energy Development Center, Vedomosti reports.
According to the Center, the supply of Russian coal in July could have decreased by about 3 million tons over the month, but the fall “was mainly offset by the redirection of volumes to the East – to India and China.” The study, citing data from the analytical agency Kpler, notes that coal supplies to China and India in July increased by 42% and 60%, respectively, over the month. 6.7 million tons were delivered to China by sea, and 2 million tons to India.
Coal to Asia is usually delivered by sea: according to the Association of Commercial Sea Ports, in 2021, coal transshipment in ports amounted to 202.7 million tons, and all coal exports, according to the Ministry of Energy, amounted to 223 million tons.
The Center’s review also notes that the discount on Russian coal in July is still high. According to experts, Russian coal, regardless of direction, is traded at discounts of more than $200 per ton.
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