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