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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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Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
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