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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, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
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- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
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