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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- PTC India Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
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