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