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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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- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Planning Commission, India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- CNBM International Corporation - China
- White Energy Company Limited
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
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