SOURCE / COMPANIES By GT staff reporters Published: Jan 12, 2021 11:38 AM
A machine unloads coal imports at a port in Lianyungang, East China’s Jiangsu Province, on December 3, 2016. Photo: CFP
Chinese traders are importing more coal from neighboring countries such as Russia and Mongolia, bringing the security of a healthy supply chain amid the backdrop of global uncertainty and disruption from the epidemic.
Fujian Guohang Ocean Shipping (Group) Co has signed an agreement with Russian coal supplier Elga Coal to set up a joint venture to export coking coal to China. The agreement is expected to escalate the imports of Russian coal by 30 million tons, nearly doubling the total Russian export volume of coal to China from 33 million in 2019, Nikkei reported on January 6.