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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- The Treasury - Australian Government
- White Energy Company Limited
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Australian Coal Association
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
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