South African coal supplier discontinues shipments to Ukraine

Wednesday, 12 November 2014 17:02:29 (GMT+3)   |  
       

According to the announcement of Ukraine's State Energy Company Ukrinterenergo, British company SteelMont Trading has refused to continue its supplies of coal from South Africa to Ukraine.

On August 19 this year, state-owned company Ukrinterenergo had concluded a contract with SteelMont Trading on anthracite coal supply from South Africa at the price of $86/mt.

It was assumed that under the contract up to 1 million tons of coal would be supplied to Ukraine. The first batch of coal was delivered in late October. However, two weeks later Ukrinterenergo stated that the supplier refused to continue the cooperation. The reason for the refusal was both financial and reputational risks that the company was not willing to bear, dealing with the state-owned Ukrainian company.


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