Germany increased its thermal coal imports from Russia by almost 46pc year on year in the first quarter to 3.2mn t, according to data from EU statistical agency Eurostat. The share of Russian sales to the country rose significantly, as Germany's total receipts of thermal coal were nearly flat year on year in January-March, at around 7.95mn t.
The sharp growth was registered in March, when Russia supplied more than 80pc of coal imported by Germany. But total thermal coal imports to the country dropped over the period — by almost 54pc year on year to 1.2mn t, Eurostat data show. Russian producers' main competitors in the region — South African and Colombian suppliers — have preferred to focus on less depressed Asian markets rather than selling volumes to Europe, while Russian suppliers still concentrate on supplying to Germany, providing more competitive prices. Germany will reduce its coal imports in coming years, as the government plans several phases to close down coal-fired power plants in the country. German utilities plan to decommission at least 1.6GW of hard coal-fired generation capacity by 2023.....