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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 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
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- Siam City Cement - Thailand
- Australian Coal Association
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Petron Corporation, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
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