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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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
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