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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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Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
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- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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