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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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- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
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