Lisbon, Portugal, October 21, 2019
International coal trader Carbo One has revised its sales target for this year to 60 mio t, an increase of 10 mio t from previous guidance of 50 mio t.
The company also expects 2020 sales to come in at around the higher level.
The increase will be driven by increased volumes to markets other than Europe, Alexey Danilov, CEO of the company said on the sidelines of the Coaltrans conference in Lisbon, Portugal.
However, the revised sales target is still 21% lower than 76 mio t last year due to weak European demand.
The Atlantic market will represent two thirds of the company’s volume, with the remaining third selling into the Asia-Pacific region. Nearly 70% of sales are steam coal, the rest is coking coal and anthracite.
In terms of target markets, Alexey Danilov said Japan and South Korea were in focus owing to their appetite for high c.v. coal.
The company is also looking at developing its customer base for PCI coal in Latin American markets such as Chile, Mexico and Brazil. Carbo One has been supplying PCI material to a large Brazilian steel mill since last year and has since then entered into an agreement with more steel mills, Alexey Danilov said.