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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Australian Coal Association
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
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