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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Economic Council, Georgia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
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