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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
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