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