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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
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