In 2022, coal shipments moving abroad through Russian ports remained profitable even as the ruble strengthened, a trend noted by analysts citing an Infoline report on coal export logistics. The analysis highlights that selling coal overseas from Russian gateways could still yield solid margins despite currency headwinds, underscoring the resilience of export routes that connect Russian mines to global energy markets. This insight is drawn from the Infoline study and accompanying data, which situates profitability within the broader context of post‑2021 commodity flows and transport costs.
The report shows that exporting coal from Russia to international markets was ultimately profitable in 2022, with the strongest margins registered for shipments to China and India when coal was dispatched from Far East terminals. The profitability range varied by terminal and by type of rail car, typically clustering around 22% to 25%. Yet, this performance was not uniform across all corridors: shipments routed through northwestern ports were far less profitable, a consequence of halted or reduced exports toward Europe and the resulting shift in demand and supply dynamics. The directional differences reflect how port infrastructure, cargo mix, and distance to major consuming regions interact to shape margins over the year.
Data from Infoline also indicated a sharp uptick in export positions at the Taman port, with implications for margins on deliveries to China and India registering roughly 12.5% to 14.2% in January 2023. The Taman port’s competitive edge lay in its ability to accommodate Capesize bulk carriers, which can carry around 220 thousand tonnes per voyage. This feature, combined with freight costs that were nearly 1.6 times lower than those from northwest ports, helped sustain more attractive economics for certain routes and cargo configurations. The combination of port scale, vessel compatibility, and favorable freight differentials contributed to a more robust export profile for the region during this period.
Commenting on broader regional trends, Mikhail Burmistrov, head of Infoline-Analytics, noted that transportation activity from the Kemerovo basin declined in the previous year. He also pointed out infrastructure constraints at the East test site that are unlikely to permit rapid growth in the near term, suggesting a softer expansion appetite for that corridor even as demand remains present elsewhere. This assessment aligns with the mix of factors shaping exports, including rail logistics, port readiness, and the capacity of adjacent distribution networks to absorb higher volumes without eroding margins.
At the end of February 2023, the Consulate General of the Russian Federation in Harbin reported a marked rise in Russia‑to‑China coal flows through the Zabaikalsk‑Manchuria border checkpoint during the first 40 days of the year. The surge correlated with China’s continued reliance on coal for power generation in several provinces, particularly Heilongjiang, Jilin, Liaoning, and the eastern sector of the Inner Mongolia autonomous region. This pattern reinforces the strategic importance of eastern corridors and border crossings in sustaining Chinese demand, even as other markets experience variability. The trend reflects how political geography, energy policy, and regional industrial demand converge to influence bilateral energy trade and logistics in the near term.