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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- MS Steel International - UAE
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
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