Russia sells coal to South Korea

摘要

Three South Korean state-owned utilities secured Russian thermal coal last week for spot and term supply. Russian coal exporters could offer reasonable prices and compete with Australian and Indonesian origins amid a lack of trades in Europe and the softening of the national currency against the US dollar. A South Korean trading company and a Russian producer were awarded at $61.50/t and $62/t on a fob NAR 6,080 kcal/kg basis, respectively, in a tender issued by Korea Western Power (Kowepo) for its 6.1GW Taean plant. This would be equivalent to around $66-66.50/t on a cfr basis, assuming a $4.50/t freight rate. The winning suppliers are required to deliver the first 40,000t cargo to South Korea on 1-20 April and to then ship 400,000 t/yr from July 2020 until June 2024. The buyer was seeking a combined total of 3.28mn t of minimum calorific value (CV) NAR 5,200 kcal/kg coal.