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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Planning Commission, India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
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