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Russian coal exports fell sharply in March

In March coal exports from major Russian ports fell significantly.

Russian coal exports fell sharply in March

According to the Institute of Energy and Finance, shipments from Ust-Luga fell by 30% year-on-year to 2.4 million tons, while from Nakhodka and Vostochny they fell by 21% to 3.7 million tons. In Murmansk, shipments remained at 1.2 million tons.

The significant reason behind this decline is the fall in prices for thermal coal to $63–66 per ton (the lowest since June 2024). According to Alexander Titov, a specialist at the Institute of Energy and Finance, only companies with their own transshipment capacities can maintain profitability. Russian Railways' policy of combating empty railcars creates additional complications, he added.

Some companies, including Russian Coal and KTK, plan to suspend seaborne exports in April due to low profitability. The domestic market remains profitable.

Experts attribute the decline in demand to seasonality, the growth of the share of renewable energy sources in Europe and the reduction of steel production in China. Increasing transportation to the east is impossible due to congestion in these directions.

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