Turkey can re-export Russian coal to the EU

The photo is illustrative

Analysts suspect that Turkey may re-export Russian coal, the import of which is currently subject to sanctions by the EU and Great Britain.

During the week, unusual cargo offers circulated in the market, International Seaborne Market analysts said.

In particular, the market offered coal transportation from Turkey to EU and Great Britain ports.

So, up to 12.8 thousand tons of coal is offered for shipment from Bandirma to Belfast at rates of 3500x/6000x l/d, layken (the period during which the vessel must be submitted for loading/unloading) — July 14-17.

Up to 6.5 thousand tons of coal are offered from Samsun or Trabzon to Burgas, with rates of 4000c/3500x l/d.

Historically, Turkey is known as a coal importer. Usually, the country does not export this type of cargo. Last year, Turkey imported 37.62 million tons of coal — 1.2% more than a year earlier.

ISM analysts suspect that Turkey may re-export Russian coal.

Last April, the EU introduced sanctions against Russian coal. Similarly, Great Britain also banned the import of coal and coal products originating in or originating from Russia. Both bans are effective from August 2022.