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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
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