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