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