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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
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