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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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Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
Friday, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
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- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
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