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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
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