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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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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 ...
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 ...
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- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Australian Coal Association
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
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