Mechel Reports Record Results for Coal Supplies to Asia Pacific
07/23/2014 - Mechel OAO, a Russian mining and metals company, achieved record results in supplying coal to Asia Pacific in the first half of this year.
From January through June 2014, Mechel exported 5.3 million metric tons of coal to Asia Pacific markets, which is the highest result in the company's history. In the same period in 2013, the company shipped approximately 3.8 million metric tons of coal to Asia Pacific. Mechel's coal exports to the East thus increased by 39%, with Asia Pacific states accounting for 75% of its total coal export.
Shipments for Asia Pacific customers generally go by sea through Port Posiet in Primorye, which is part of Mechel, and Port Vanino in Khabarovsk Region. Record shipment results were primarily due to the launch of specialized transshipment coal complex at Port Posiet into preliminary operation. Mechel's shipments through Port Vanino also increased due to upgrading of the port's transshipment equipment which is currently under way.
"The Group's sales subsidiaries focus their attention on the burgeoning Asian markets. We successfully work at expanding our business ties with coal consumers in that region and intend to consolidate our leading position among global exporters. Our indisputable advantages lie in our Far Eastern coal deposits' close proximity to Asia Pacific, comfortable logistics and fairly low mining costs," Mechel OAO's chief executive officer Oleg Korzhov noted.
Mechel is an international mining and steel company which employs over 70,000 people. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.
Shipments for Asia Pacific customers generally go by sea through Port Posiet in Primorye, which is part of Mechel, and Port Vanino in Khabarovsk Region. Record shipment results were primarily due to the launch of specialized transshipment coal complex at Port Posiet into preliminary operation. Mechel's shipments through Port Vanino also increased due to upgrading of the port's transshipment equipment which is currently under way.
"The Group's sales subsidiaries focus their attention on the burgeoning Asian markets. We successfully work at expanding our business ties with coal consumers in that region and intend to consolidate our leading position among global exporters. Our indisputable advantages lie in our Far Eastern coal deposits' close proximity to Asia Pacific, comfortable logistics and fairly low mining costs," Mechel OAO's chief executive officer Oleg Korzhov noted.
Mechel is an international mining and steel company which employs over 70,000 people. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.
