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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
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