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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, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
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- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
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