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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
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