Since the European Union banned coal imports from Russia, export volumes have fallen, forcing Russia to discount coal outside the EU. For ships in the capesize segment this has led to an increase in tonne miles while vintage ships have been rescued from the breakers. Russia has cemented its position as the second largest exporter of coal to China this year, with shipments up by around 20%, helping cushion the loss of Australian volumes, which Beijing has barred for more than year.
A string of vintage capes registered to single-ship brass plaque firms are busy shipping coal from Russia.
Among those ships now shipping coal is the Jin Jiang, registered owned by a one-ship-strong outfit named Ping On Enterprise. This ship is close to the port of Ust-Luga, a port with four coal terminals located in the southern part of Luga Bay of the Gulf of Finland. Another vessel that has been here twice since September is a ship named Gingo. Also, this ship is owned by a one-ship strong outfit registered in the Philippines called Light Maritime.
The third Splash has tracked is called Winnie, a cape noted sold for scrap in August but has since resurfaced. This ship is owned by another one-ship strong outfit called Stark Maritime. The rusty bulker has been travelling to the Black Sea regularly, seen calling at the port of Taman in recent days.
A fourth cape, named Sunlight, follows the same pattern. It was recently at the port of Taman, after this it left for China, and this ship is now on its way to the port of Vanino in Russia. Greek heavyweight NGM Energy is registered as the manager of this ship.
The fifth last cape Splash has looked at is Cape Natalie. This ship is registered with another Filipino outfit named Destiny Mare. This ship was in Ust-Luga at the end of October, and then it went to two ports in Turkey before heading up north again.
