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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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Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
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- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Australian Coal Association
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
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