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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, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
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