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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
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