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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, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Australian Coal Association
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- PTC India Limited - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
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