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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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Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
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- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Planning Commission, India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
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