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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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Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
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- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
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