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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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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Economic Council, Georgia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
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