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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- The Treasury - Australian Government
- Ministry of Mines - Canada
- GMR Energy Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
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