Offshore coal exports from Russia fell by 17% in the first half of the year due to falling prices

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Marine coal exports from Russia in January-June 2024 decreased by almost 17% year-on-year compared to last year. This is reported by the publication «RBC ».
From the statistics «Kpler» analyzed by the publication, it follows that in June the shipment of solid fuel in Russian ports was at the level of 13.9 million tons, falling by 16.5% by June 2023. This is due to falling fuel prices, the introduction of export duties and the suspension of supplies to the OTEKO terminal in Taman.

In addition, this may be due to the introduction of an export exchange rate duty on fuel (the duty rate at the rate of 80&85 rubles per dollar is 4%, at 85&90 rubles per dollar - 4.5%, at 90&95 rubles a dollar — 5.5%, at 95 rubles. per dollar and more - 7%), established in October last year and canceled in January this year. Subsequently, it was resumed in March (it was assumed that the measure would be in effect until February 28, 2025) and again suspended in May until August 31.

According to estimates by CDU TEK (a branch of the Russian Energy Agency of the Ministry of Energy of Russia), total coal exports from Russia in the first half of 2023 amounted to 102.7 million tons. Sea exports during this period reached 95 million tons. The total export of Russian coal in the first half of 2024 could amount to about 93.1 million tons.