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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, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- White Energy Company Limited
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
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