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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, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
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- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
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