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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
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