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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
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