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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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Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
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- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
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