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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, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- VISA Power Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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