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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 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - 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, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
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- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
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