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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
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