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Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
 India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power generation and is the third largest energy consumer, making it a vital commodity for India. According to Reuters, the country's coal demand for power generation is expected to be 821,000 kt in the focus year 2023-2024, an increase of 8% compared to last year.
Looking at India's seaborne coal imports, there is an increase of 19% from 2021 to 2022, with imports standing at 208,034.13 kt. This year, the country has already imported volumes equivalent to 37% of last year's imports, or 76,728.95 kt, a figure that is expected to rise further as we enter the second half of the year, and it is expected that more coal will be needed to meet the country's electricity demand. A closer look at quarterly coal imports shows that in 2021 and 2022, Q2 was the strongest period with 51,859.07 kt and 64,261.28 kt respectively. This makes sense as India's peak power season is in the summer months and stockpiling is needed to ensure energy security. On the steel front, the country is also experiencing growth in this industry. In 2023, India's steel demand is expected to be in the range of 130mmt -135mmt, about 6% higher than last year.
Taking a look at India's top importers, the top 4 are Indonesia, Australia, South Africa and Russia. As far as Indonesia is concerned, shipments to India have been increasing since 2021 and the trend is likely to continue. They totalled 49,417.93 kt in 2021, 86,675.97 kt in 2022 and currently stand at 31,530.67 kt for 2023, which is 36% of last year's imports. The same cannot be said for Australia and South Africa, as both countries' coal exports to India have been declining since 2021. Australia exported 68,003.09 kt in 2021, 55,440.31 kt in 2022 and 13,384.15 kt so far in 2023, 24% of last year's exports. South Africa exported 24,347.48 kt in 2021, 17,255.53 kt in 2022 and 9,230.68 kt so far in 2023, which is 53% of the 2022 volume, a remarkable figure, and the biggest amongst the top 4 exporters.
The same is true for Russia. India imported 6,987.85 kt in 2021, 18,941.25 kt in 2022, while imports so far stand at 9,523.40 kt, which is 50% of last year's imports. This could be explained by the traditionally lower price of South African coal compared to Australian coal, while Russian coal became more lucrative after the invasion of Ukraine.
The largest percentages of volume shipped to India this year compared to last are from South Africa and Russia, indicating a strong interest to continue on this path. This means that the demand for tonne miles is increasing, which in turn supports freight rates. The vessel types most used in this trade are Kamsarmax and Capesize. If the trend continues and India continues to import more coal from distant countries, rates for the trade may increase.
By Fotis Kanatas
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
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- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
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