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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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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
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