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