OREANDA-NEWS  According to the results of May-July 2024, the total volume of Russian coal exports increased by 27 percent compared to February-April and reached the level of 37.3 million tons. This is reported by the Kommersant newspaper with reference to statistical data from analysts at the Platts agency.

Experts have linked this trend to a number of factors. Among the main reasons for the sharp increase in Russian coal exports, they attributed a noticeable increase in imports of this type of fuel from consumers in the Asia-Pacific (APR) and Mediterranean regions. China, Japan, South Korea, Taiwan and India became the key buyers of Russian coal during this period of time. This was largely due to the hot weather in the Asia-Pacific region.

In addition, analysts explained, the increase was influenced, among other things, by the cancellation by the Russian authorities of "exchange rate" duties on exports of thermal coal and anthracite. This measure is valid from May 1 to August 31, 2024, experts recalled. At the same time, it is premature to talk about the restoration of shipments of Russian coal in annual terms, according to the Association of Commercial Seaports (ASOP). According to their data, in the first seven months, the volume of transshipment of this type of fuel from the Russian Federation decreased by 11.4 percent and dropped to 112.6 million tons.

Earlier, the Kommersant newspaper reported that the temporary cancellation of "exchange rate" duties on the export of Russian coal was due to large losses that continue to be borne by domestic exporters of this type of fuel. Thus, according to Rosstat, in January-February 2024, 45.9 percent of Russian coal companies faced a drop in profitability against the background of lower world prices for this energy resource and the European embargo.