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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Australian Coal Association
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
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