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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
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