Russian coal exporters are facing a third year of contraction, leading to lower profits and production, according to Argus statistics. transmits The Moscow Times.
At the end of 2024, Russian coal miners managed to sell 195 million tons of products to foreign markets — 17,5 million tons less than a year earlier and 26,2 million tons less than the 2022 figure.
Analysts from Argus noted that the indicators are negatively affected by market conditions, sanctions, and railway infrastructure problems.
"Unlike oil and gas, which Europe continues to purchase, albeit in small quantities, coal has come under a total embargo, and the largest coal companies — SUEK and Mechel — have been added to the US sanctions lists," the message says.
As noted in Argus, the export situation was worsened by problems on the railways, which were not ready for the "economic turn to the East." The lack of locomotives and drivers, coupled with an increase in freight traffic, put Russian railways on the verge of transport collapse: the average speed on the network fell below 35 km/h and became the minimum since 1991.
Due to problems on the railway, some coal companies were unable to auction as planned.
At the same time, coal export prices fell to a seven-year low, making all Russian coal companies unprofitable. The net loss amounted to 7 billion rubles ($81 million).
Against this background, in the main coal region - the Kemerovo region of the Russian Federation - according to the results of last year, production decreased by 15,8 million tons, to 198,4 million.
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