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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, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
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- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
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