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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Renaissance Capital - South Africa
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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