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Home Coal Production

SUEK acquires EuroСhem dry bulk terminals

Editor by Editor
4 years ago
Reading Time: 2 mins read
Russian coal production
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SUEK purchased dry bulk terminals in the ports of Tuapse and Murmansk from EuroСhem.

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Both companies are owned by a Russian businessman Andrey Melnichenko.

The price of the transaction could amount to 20 billion RUR (274.16 mio USD). Under the conditions of the deal, the purchase of the dry bulk terminal in the port of Tuapse will be financed by SUEK whereas Murmansk bulk terminal will be bought by SUEK and its Murmansk Commercial Sea Port.

According to experts, the deal results from an optimization of Andrey Melnichenko’s business, given that coal accounts for a large share in transshipment volumes of the dry bulk terminals. Moreover, in Q1 2021 SUEK and EuroСhem will create a transportation entity responsible for logistics of both companies.

The new transportation holding will manage SUEK’s terminals: Murmansk Commercial Sea Port, Maly Port in Nakhodka, Daltransugol in Vanino and 47.5 thousand railcars. EuroСhem will transfer 6.6 thousand railcars under management of the holding. Nevertheless, since the new transportation company will be still legally dependent on SUEK rather than become a separate company, experts think that the positive impact on logistics could be overestimated.

The cargo turnover of Murmansk bulk terminal is 7 mio t. In Jan-Nov 2020 coal transshipment in the port of Murmansk amounted to 11.83 mio t (-2.60 mio t or -18.1% to Jan-Nov 2019). The cargo turnover of the bulk terminal in Tuapse is 2 mio t. In Jan-Nov 2020 coal transshipment in the port of Tuapse declined to 3.20 mio t (-0.71 mio t or -2.2% to Jan-Nov 2019).

SUEK is a Russian coal producer. The company owns 30 coal mining enterprises, 7 coal washing plants, Daltransugol coal handling terminal in the port of Vanino, Murmansk commercial sea port and Siberian generating company and other assets. In Jan-Nov 2020 SUEK extracted 92.29 mio t (-3.61 mio t or -3.8% to Jan-Nov 2019).

EuroСhem is a Russian producer of mineral fertilizers. It owns mining assets in Russia and logistic assets in Europe. In 2016, EuroСhem sold its stake of 36.2% in Murmansk Commercial Sea Port to SUEK for 8.7 billion RUR (119.26 mio USD). In addition, EuroСhem announced plans to build a terminal for the transshipment of fertilizers with a capacity of 6 mio t in Ust-Luga.

Source: CAA Analytics

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Tags: Andrey MelnichenkoCAA AnalyticsEurchemRussian coalSuekworld coal market
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