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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
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- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
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