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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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- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Parliament of New Zealand
- MS Steel International - UAE
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
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