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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
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