MOSCOW, April 20. /TASS/. Russian exports of steam coal by maritime transport rose 10.5% year on year in 2022, the Argus agency said in a report.

Specifically, Russian coal exporters managed to maintain or expand their market shares for destinations not hit by sanctions, including China, India, Turkey and South Korea. However, it may prove more challenging to maintain current sales volumes in 2023 in view of the declining spread between Russian and foreign coal prices as well as the uncertain prospects for sales in Morocco and Turkey, the agency reported.

Meanwhile, supplies from the US, Colombia and South Africa served to replace the bulk of Russian volumes now missing from the structure of European steam coal imports after the imposition of the EU embargo.

Premiums to non-Russian coal that were in effect throughout most of 2022 declined. At the same time, weakening demand prompted the drop in the total consumption volume and affected prices worldwide, which are declining from the highs seen in 2022.

Selling costs remain high against historical levels, given the current financial and geopolitical situation. The cost level has impacted the amounts of speculative deals and has pushed some companies to completely drop futures trading, according to the report.