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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
 Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dry bulk market. However, over recent months the Indian rupee has considerably weakened against the US dollar, making it harder for Indian buyers to import coal, and casting some doubt on the countrys ability to boost the bulk market. Money, Money, Money
The rupee began to weaken significantly against the dollar in August, and reached an all-time low exchange rate of 51.3 rupees to the dollar on 18th November, down from 44.1 on 8th April. The effect on the price of imported coal has been large, as can be seen in the Graph of the Month. Whilst the price of delivered Indonesian coal in dollars has fallen by 7% since the beginning of May to stand at $125/tonne by mid-November, the price in rupees has increased by 7%. India has been the only major Asian coal importing country to have been affected in this way, as the Chinese (as can be seen on the graph) and Japanese currencies have both strengthened slightly against the dollar since the early summer.
Powering Up
India is currently projected to import 129.6 mt of coal over 2011, with imports expected to grow strongly over the next few years. Demand for imported coal has been increasing due to higher steel production, new coal-fired power plants, and a lack of investment in domestic coal mines. In addition, port and infrastructure development is expected to more than quadruple coal handling capacity by 2020, all of which generally leads projections for future coal imports to be bullish. While imports may well still grow strongly over the long-term, recent coal exports to India have fallen, with exports decreasing from 12.7mt in May to 9.7mt in September. This could be related to financial constraints, and currency movements may also affect Indian imports further in the months to come.
No Such Export Luck
A weaker currency also makes a countrys exports cheaper to other nations, potentially raising export levels. However, this benefit may not be as applicable to Indias dry bulk exports.
Whilst India exported 103.1 mt of iron ore in 2010, exports in years to come are extremely unlikely to exceed this level again, after a wave of corruption scandals, export bans and export duty rises have considerably reduced iron ore export volumes. Therefore the weaker rupee is unlikely to bring any such benefits to Indias bulk export industry.
So, the weaker rupee does harm the position of Indian buyers in the global market, and is thus a potentially worrying development for the bulk market in the short-term, especially since little benefit can be expected from more competitive Indian exports. However, Indian development and demand growth are still projected to significantly raise trade volumes over the long-term, even if currency movements are hindering trade at the moment.
Source: Clarksons / Hellenic Shipping
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Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- India Bulls Power Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- White Energy Company Limited
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
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