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