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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- PTC India Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
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