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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, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- MS Steel International - UAE
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
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