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