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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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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Planning Commission, India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
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