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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, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
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- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- PTC India Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
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