According to Kpler, a research company, Russian coal exports to Asia by sea have been steadily declining due to low global prices and high shipping costs.

In February, exports of all coal grades from Russia totaled 8.48 million metric tons, slightly more than in January (8.37 million), but significantly less than in February 2023 (10.81 million tons).

Following the imposition of sanctions on Russian energy exports, Russian coal miners are forced to shift their focus from sales to Europe to Asian markets.

According to Reuters, Russia's maritime exports of coal to Asia peaked in April last year, but have since declined significantly. Competition with coal from other Asian exporters, such as Indonesia, Australia and South Africa, is becoming increasingly fierce.

For example, Russian steam coal exports to India fell to 557,935 tons in February from 1.06 million in January, the weakest result since November 2022.

Coal trade between Russian ports and India may also be affected by attacks on shipping in the Red Sea.

In turn, Russia's metallurgical coal exports to Asia are also experiencing difficulties, with shipments at 1.73 million tons in February, the lowest since August 2021.

Russia's seaborne metallurgical coal exports to China are also falling, to 587,751 tons in February, slightly more than in January (576,435), but still below the peak recorded in March 2023.