"Russia Coal to China" agreement signed,Austrlia Coal ditched

On December 15, 2020, the signing ceremony of the strategic cooperation between Fujian Guohang Ocean Shipping (Group) and Russian Elgar Coal on "Elgar Coal Imports to China" was successfully held in Shanghai.
 
China has been Russia's most important trading partner in the past decade, and China accounted for 17% of Russia's imports and exports.
 
Elgar hopes to strengthen cooperation with China, and export trade volume to China will reach 30-50 million tons.
 
Elgar Coal could effectively reduce China's dependence on coal resources from the United States and Australia.

At the same time, Fujian Guohang has a large number of ships, can fully guarantee the capacity.
 
Fujian Guohang and Elga officially signed a strategic partnership, the two sides will set up a joint venture project management company headquarters in Shanghai.
 
The two companies joined forces to import Elgar's high-quality low-sulfur and low-phosphorus coal resources into China, enriching China's high-quality coal supply channels.
 
In addition, Fujian Guohang will fully guarantee the maritime transport capacity to ensure the security and stability of the maritime energy "lifeline" of China and Russia.
 
The signing of this agreement means that bilateral cooperation has entered a new stage, which will contribute to the economic and trade development between China and Russia.

Fujian Guohang Ocean Shipping (Group) is an enterprise mainly engaged in shipping and diversified industries such as coal import and export trade, energy sales and international cruises. At present, there are 47 self-owned ships with a capacity of over 5 million DWT and an annual freight and coal trade volume of 60 million DWT, ranking the top five among Chinese shipping enterprises in terms of comprehensive fleet size.
 
Russia's ELGA Coal has the largest coking coal deposit in Russia, with reserves of 2.2 billion tons. Elga Coal can be compared with coal seams in Australia, such as Gunilla, Goldston and Gregory, and produces high-quality solid coking coal with very low sulfur and phosphorus content.
 
Source: Sarah Yu, XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.