Monday, June 5, 2023
HomeHeadlinesEurope imports more South African coal as Russian ban looms

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Europe imports more South African coal as Russian ban looms

European countries, scrambling to secure alternatives to Russian coal, imported 40% more coal from South Africa’s main export hub in the first five months of this year than over the whole of 2021, figures obtained by Reuters showed on Wednesday.

South Africa’s Richards Bay Coal Terminal (RBCT) delivered 3 240 752 tonnes of coal to European countries by end-May this year, 15% of RBCT’s overall exports, up from 2 321 190 (4%) in 2021, the figures showed.

Starting the second week of August, Russian coal imports will be banned in the European Union, part of wide-ranging sanctions on Moscow.

RBCT did not immediately reply to a request for comment. RBCT usually provides figures annually, and does not give a comprehensive breakdown of export destinations.

The Netherlands, Italy, France, Spain, Denmark, Poland, Germany, and Ukraine have received coal from RBCT so far this year. Some of them only began importing from RBCT after Russia invaded Ukraine on Feb 24.

The Netherlands received no coal from RBCT in January or February, but imported 1.27 million tonnes of coal from the terminal in March, April and May, with volumes increasing each month. It was the fourth top recipient of RBCT coal, accounting for 5.76% of total volumes.

France’s coal imports from RBCT jumped nearly seven-fold, from just 68 005 tonnes over the whole of last year to 464,432 tonnes so far this year.

Spain, Poland and Germany did not import any coal from RBCT last year. In the first five months of this year, Spain has imported 355 250 tonnes, Poland 181 515 tonnes and Germany 157 383 tonnes.

Japan, which has also said it would ban Russian coal imports, received 388 249 tonnes of coal from RBCT since January, nearly double the tonnage it bought last year.

China, the third biggest importer of coal from RBCT in 2021 with 6.09 million tonnes, did not receive any coal from the terminal this year, the figures showed, reflecting China’s increased imports of Russian coal.

The surge in exports to Europe came despite a backdrop of poor performance at RBCT, underscoring the missed opportunity for South Africa as prices of the fossil fuel shot up.

Poor maintenance, a lack of locomotives, and copper cable theft have eroded South Africa’s state-owned freight rail services which transport coal to RBCT and other ports. Some miners are using trucks to get their coal to port instead.

RBCT exported 22 057 587 tonnes of coal in the first five months of 2022. At that rate, RBCT will again see a drop in annual exports after its 2021 tonnages were the lowest since 1996.

Source: Reuters

Related Posts

Video

Finance & Economy
Shipping News
Ports

BW LPG appoints new CFO

BW LPG announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years...

Frontline Posts Highest First Quarter Results Since 2008

Frontline plc reported unaudited results for the three months ended March 31, 2023: Highlights Highest first quarter profit since 2008 of $199.6 million, or $0.90 per...

Diana Shipping posts slightly lower Q1 profit; takes out $123m in loans

Diana Shipping reported net income of $22.7 million and net income attributed to common stockholders of $21.3 million for the first quarter of 2023....

CMA CGM Profit Eases as Container Transport Demand Wanes

CMA CGM expects its profit to ease further for the rest of the year after a first-quarter decline, as an uncertain economy and influx...

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Taiwan Shipping Firms Set to Hand Out Bumper Bonuses Again

Taiwanese shipping companies are handing out bumper mid-year bonuses despite a slump in global...

Baltic index hits over 3-month low amid lower coal imports

The Baltic exchange’s main sea freight index extended losses for the 15th session straight...

Baltic index falls for the month as vessel demand wanes

The Baltic exchange’s main sea freight index recorded its first monthly decline in four...

North Korea missile tests endanger shipping, UN maritime agency told

North Korean missile tests are endangering the safety of commercial shipping in busy sea...

Singapore Clamps Down on Tankers as Dark Fleet Grows

Singapore’s detentions of oil and chemicals tankers have surged since early last year, highlighting...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...