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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
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