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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, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- London Commodity Brokers - England
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
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