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