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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, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- The University of Queensland
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
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