Russian exporters redirect coal supplies from European to Asian markets, leaving Latvian ports with a little coal-handling volumes amid lowering demand for thermal coal in Europe as a result of the growing share of renewables in the EU power mix, second wave of Covid-19 and tough competition of coal with natural gas.
In January-December 2020 Russian coal exports through Latvian ports is forecasted to decrease to 3.5. mio t (-13.0 mio t or -79% y-o-y). Russian coal suppliers increase exports through domestic Baltic ports (mainly in Ust-Luga) instead of transshipment via Latvian port capacities.
In January-November 2020 coal handling through the port of Ust-Luga surged to 33.58 mio t (+3.19 mio t or +10.5% y-o-y). In November, the Deputy Minister of transport of Latvia Uldis Reimanis sent a letter to the assistant of the Russian Minister of transport Yuri Petrov with a complain that Latvian ports of Riga, Ventspils and Liepaja did not receive sufficient volumes of cargo.
Ust-Luga Coal Terminal (Rosterminalugol) is the largest Russian coal terminal in the Baltic. In addition to Ust-Luga Coal Terminal, there are three more coal handling terminals in Ust-Luga port: Multipurpose Reloading Complex (MRC), Yug-2, Ust-Luga Container Terminal (ULCT). The overall coal throughput of all Ust-Luga terminals in 2019 reached roughly 34 mio t.
Source: CAA Analytics
[tfws username=”CAA_Analytics” height=”700″ width=”350″ theme=”light” color=”#FAB81E” tweets=”2″ header=”yes” footer=”yes” borders=”yes” scrollbar=”yes” background=”yes”]
The Coal Hub is an online platform for sharing analysis and information about the global coal market more info
Sign up to receive our weekly newsletter (each Monday) with new coal market reports, presentations & analysis.
By signing up, I agree to our TOS and Privacy Policy.
© 2020 TheCoalHub | All Rights Reserved
