KRU Overseas Ltd., a global supplier of high-quality coal, sponsored the International Conference Argus Russian Coal Market 2020, which was held on February 20 in Moscow. The event brought together more than 150 participants from 20 countries, including Russia, Turkey, the United Arab Emirates, China, Kazakhstan, Latvia, Switzerland and others. The conference was attended by major producers and consumers of Russian coal, global traders, as well as representatives of metallurgical and energy industries, shipping and stevedoring business, financial sector and others.
Conference participants discussed current changes in global coal demand and its impact on Russian coal exports. The Russian Ministry of Energy presented the outlook of the Russian coal industry until 2035.
Argus lead analyst William Wang shared his opinion on the impact of the coronavirus on the coal market in China and highlighted the prospects for imports to the country amid increased competition between Russian, Australian and Indonesian suppliers.
The forecast for global coal consumption and changes in energy balance was presented by Carlos Fernandez Alvarez, senior analyst at the International Energy Agency (IEA). The IEA considers it premature to talk about the beginning of the downtrend in decreasing coal demand in the global coal market and forecasts that rising coal consumption in India and other Asian countries (primarily Indonesia and Vietnam) will be able to offset the demand decline in Europe and North America. Thus, the IEA predicts stable demand/moderate growth in the global coal market until 2024.
The conference was also attended by the analysts of CAA (Contemporary Analytical Agency), which has been providing KRU Overseas with customized coal markets analytics as well as bespoke expertise and research.
KRU Overseas Limited was established in Cyprus in 2017. The company supplies coal produced by JSC Kuzbassrazrezugol (KRU), which is the largest producer of high-quality coal in the Kuzbass region of Russia with annual production of about 50 million tonnes.
KRU Overseas develops innovative logistics solutions in a worldwide coal supply chain to provide the most efficient and timely delivery of coal to any part of the globe.
KRU Overseas is a socially responsible company, which carries out its business with the objective of sustainably creating value for society, citizens, customers, shareholders and for the local communities in which they do business, providing a high-quality goods and services through the use of environmentally-friendly energy sources, innovating and maintaining awareness of the opportunities offered by the knowledge economy.