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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
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