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