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