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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
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