POLISH COAL TRADE BALANCE AFTER 3Q 2016

In first 3Q Poland imported 5.9m Mt of hard coal, which is 200k more YOY. Last year domestic import recorded 8.2m Mt, which was 2.1m less than in 2015. According to Industrial Development Agency (ARP), in current year that amount should be similar. So far, in after 9 months of 2016 Poland imported 4.3m Mt of steam coal (mainly from Russia) and 1.6m Mt of coking coal (Australia).

Last year, September was the month with largest coal import; only then traders shipped to Poland 1m Mt of commodity. In September 2016 Poland imported 0.7m Mt of coal.

Sea freight took only around 20% of total import, most of it was made by rail, mainly from Russia. 90% of sea import was carried out by EDF Paliwa; recently EDF Trading (based in London) has a golden deal for Colombian coal from Drummond and part of it is shipped to Poland.

Meanwhile, Polish export was 500k smaller YOY, and recorded 6.3m Mt of coal. Still, Poland is net coal exporter and it most probably will not be changed by the end of the year.

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