The EU is buying more South African coal to replace Russian shipments

In the first three quarters of this year, South African coal exports to Europe amounted to 9.6mt (million tonnes), up a staggering 528% year-on-year.

Although India remains South Africa’s main customer, the European Union is now in second place with a 20% share of total output. The rise of South African coal in Europe has come about because of sanctions imposed on Russian coal by politicians in Brussels. Indeed, Russian coal imports in the first three quarters were down 26.3% to 20.5mt.

In terms of coal exporters, South Africa is now the fifth largest globally, behind Indonesia, Australia, Russia, and the US. It exports accounted for 5.4% of all global coal exports in the first three quarters.

Ironically, South Africa’s coal exports to both India (–29.5%) and China (32.1%) have declined as these countries have benefited from cheaper Russian coal. Indeed, Russian coal exports to India are now up around 130% on the year. Barry Cross

Glencore is a major coal miner in South Africa.

Ukraine Grain Corridor officially extended

The Black Sea Grain Initiative was officially extended for a further 120 days, starting on 19 November, as agreed by the parties to the Initiative.

Three vessels left Ukrainian ports on 17 November carrying a total of 98,840 metric tonnes of grain and other food products under the Black Sea Grain Initiative. On the same day, one inbound vessel transited the maritime humanitarian corridor under the Black Sea Grain Initiative heading towards Ukrainian ports.

As of 17 November, the total tonnage of grain and other foodstuffs exported from the three Ukrainian ports is 11,186,228 million metric tonnes. A total of 941 voyages (470 inbound and 471 outbound) have been enabled so far.

As per procedures agreed at the Joint Coordination Centre (JCC), all participants co-ordinate with their respective military and other relevant authorities to ensure the safe passage of commercial vessels under the Black Sea Grain Initiative.

The JCC monitors closely the passage of commercial vessels through the maritime humanitarian corridor.

The Joint Coordination Centre was established under the Black Sea Grain Initiative in Istanbul on 27 July 2022. It comprises senior representatives from the Russian Federation, Türkiye, Ukraine and United Nations and its role is to enable the safe transportation, by merchant ships, of grain and other foodstuffs and fertilizers from three key Ukrainian ports in the Black Sea to the rest of the world.