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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, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Posco Energy - South Korea
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
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