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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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Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
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- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
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