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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, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
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- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Australian Coal Association
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- The University of Queensland
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
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