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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
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