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