More Russian coal sold to Taiwan

摘要

Russian producers sold a number of thermal coal cargoes to Taiwan at the end of March. The trades signify a further weakening of prices in the region, as Russian suppliers had to reduce their offers to stay competitive in the oversup- plied market. Taiwanese firm Formosa Plastics Group (FPG) bought Russian coal cargoes for its facilities in Taiwan at three ten- ders that closed on 25 March. A large international trading firm sold 80,000t of thermal coal, equivalent to a Panamax cargo for May loading at a fixed price of about $71.50/t fob Vostochny on a NAR 6,000 kcal/kg basis. Under the tender, FPG sought 80,000t of coal with minimum NAR 5,500 kcal/kg (GAR 5,700 kcal/kg), maximum 16pc moisture, 26-38pc volatile matter, maximum 13.8pc ash and no more than 0.84pc sulphur. The coal should be delivered to Taiwan's Taichung, Taipei, Kaohsiung or Suao ports on a Panamax vessel loading on 21-30 May.