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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
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