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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
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 ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
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