Japan utilities reach agreement with Russian supplier
Published by Joseph Green,
Editor
World Coal,
Russia’s largest coal supplier and Japanese utilities have reached an agreement on a thermal coal import contract at around US$72 per t for the financial year starting 1 April. This figure is 17% lower than the previous fiscal year.
The deal with SUEK Plc was most probably based on the earlier coal contract settlements between Tohoku Electric Power and global mining groups Rio Tinto and Glencore Xstrata at just under US$68 a t, also down 17% on year.
Japanese utilities are purchasing more coal from Russia to expand their purchasing sources as they currently rely on Australia for about 74% of their total imports.
Japan imported 9.69 million t of thermal coal from Russia last year, up 23.5% from 2013 and accounting for nearly 9% of total thermal coal imports.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcoal.com/coal/04062015/japan-utilities-reach-agreement-russian-supplier-2370/
You might also like
Energy Department to use Defense Production Act funding to expand coal capacity at 13 plants and build export infrastructure
The US Department of Energy (DOE) has announced it will support 13 American coal-fired power plants and new coal export infrastructure by providing up to US$500 million in Defense Production Act Title III (DPA) funds.
