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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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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Latin American Coal - Colombia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
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