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Very unpredictable this share up and down like a yo yo,how ever demand for coal is very strong at the moment and will be for a while, with what's happening with Russia & Ukraine, more countries are going to be looking at coal so demand will remain ,so personally I will be keeping my money here.i think when the figures are out on the 22nd more investors are going to want in as this is still a new company and not much to go off.
Just I thought of today we are all here as investors making huge profits from this stock,but please remember there are people dying with there life's turning up side down and children being left with out parents ,and the price of coal is being driven by a terrible WAR.So rather than boasting about how well we are doing I will be donating some ov my profits to help the Ukraine people
China's Russian coal purchases stall as buyers struggle to secure financing
By Muyu Xu
and Chen Aizhu
3 minute read
A view shows operations at Razrez Inskoy coal enterprise near the town of Gramoteino in the Kemerovo region, Russia November 28, 2021. REUTERS/Maxim Shemetov
BEIJING/SINGAPORE, March 1 (Reuters) - Chinese traders are scaling back imports of Russian coal as they struggle to secure financing from state banks worried about potential sanctions after Russia invaded Ukraine, in early signs of supply disruption from the world's third-largest coal seller.
Coal prices from other exporters Indonesia, Australia and South Africa have jumped this week, with benchmark Newcastle coal hitting a record $274.50 a tonne on Monday, a 15% rise, in the wake of Russia's launch of what it said was a "special military operation" in Ukraine on Thursday.
Key global coal prices
China is Russia's largest coal buyer, taking in more than 50 million tonnes of coal worth $7.4 billion last year via rail and sea from Russia's Far East. Russia accounted for roughly 15% of China's total imports and was its second largest supplier behind Indonesia.
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"Most banks have stopped issuing letters of credit after the SWIFT sanctions. As almost all contracts are dollar-denominated, we have no other way to make the payment," said a China-based trader dealing in Russian coal.
Russia coal exports by destination
Other traders are in discussions with Russian exporters about paying with the Chinese currency for the first time.
"We're waiting for their response, but trades have been put on hold for now," said a second trader, who imports Russian coal regularly via rail into northeast China.
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The United States and its allies on Saturday moved to block certain Russian banks' access to the SWIFT international payment system that facilitates the bulk of international financial flows.
While some buyers could eventually resort to using China's onshore clearing and settlement system, known as CIPS, overall purchases by China have been muted since last week after Beijing cut the domestic price cap that makes coal imports largely uneconomical.
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Ample domestic coal inventories and an upcoming seasonal dip in its use for heating mean Chinese buyers can afford to pause imports for now.
But any prolonged supply gap from Russia is a concern for buyers as Beijing maintains a ban on imports of Australian coal and top supplier Indonesia this year imposed new export limits.
Rising freight costs are another worry, with shipping charges already substantially higher from Indonesia and South Africa than from relatively local ports in Far East Russia.
Chinese coal imports face steeper shipping costs if they want to replace Russian cargoes
"Global coal prices are unlikely to fall
As Russia Delays Coal Supply
By Charles Kennedy - Feb 23, 2022, 11:30 AM CST
Coal prices are rising again as the Russia-Ukraine crisis has put energy markets on alert and Russian coal producers struggle to get their coal via railways to export terminals due to COVID-related railway staff shortages.
JSC Kuzbassrazrezugol (KRU), asked customers to postpone initially planned deliveries of coal for the first and second quarter of 2022 by one quarter, in a letter to clients dated February 18 and seen by
Yes indeed huge profits and I have also noticed the port has been recently busy with many bulks , personally I see coal rising more in the next few weeks ,so hopefully we shall see better than expected results in March