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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
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