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