Colombian coal demand from Asia drives up Capesize shipping
NewsDrewry forecasts a 3.3% rise in Capesize shipping demand in 2024, driven by increased coal exports from Colombia to Asia, offsetting reduced European demand.
Russia’s third largest steel maker Novolipetsk Metallurgical Works (NLMK) is reportedly about to exchange part of its 69.4 per cent stake in the country’s largest coal port, Tuapse on the Black Sea, for shares in two leading national coal miners, Altai Coke (AK) and ProkopievskUgol (PU), both controlled by KuzbassRazrezUgol (KRU). NLMK is understood to have paid US$200 mill when it acquired the port stake from SeverStalTrans last year.
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