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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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Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
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