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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, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
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- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- White Energy Company Limited
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
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