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