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