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Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
 COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US Coal companies, since Q1, 20122, have shifted their coal sales from domestic to overseas, helped by low transportation cost as reflected by the low Baltic Dry Index. US exports in 2011 grew significantly to 118.2 m tons (+31.3% y-y) with Europe (50.3%) and Asia (25.7%) as major destinations.
With the Euro zone slowing, more and more US coal, most of which are metallurgical coal, are finding their way to Asia, specifically Japan (11% of Indonesia’s 2011 total coal exports goes to Japan) and China (33%), Bahana said in its report.
Thermal coal prices: Heading further down
The coal inventories at key power plants in China remain high, increasing by 5.4 m tons from end April to 88.9m tons on 20 May, sufficient to generate power plants in the next 26 days (normally 15-17 days).
In China’s Qinhuangdao, the world’s largest coal port by capacity (9m tones), have exceeded levels, the first time since late 2008 during the height of the financial crisis. At that time, thermal coal prices was dropped sharply. Last week, Qinhuangdao’s inventory reached 8.2m tones, up 1.1m tones in just 10 days, suggesting lack of demand.
It is clear that thermal coal prices have only one way to go: Down.
Bahana was also reduced its coal price assumptions by 15% - 38% for the period 2012 - 2014 despite yesterday’s Newcastle average coal price y-y drops nearly 15%, reflecting about 10% fall to USD 107.6 from its recent peak of USD 118.9/ton. However the current coal prices, remaining much higher than the gas prices.
As coal prices are below USD 90/ton in June 2012, the first time since August 2010, Bahana has reduced its 2012 coal benchmark price assumption by 15% to USD 97/ton (2H 12 average: USD88/ton; Current: USD89/ton) and by 29% to USD85/ton in 2013, before falling further to USD80/ton in 2014, in line with the expected fixing of China’s railway problem, which has affected imported coal usage, including Indonesia.
As a result of lower coal prices, Bahana has downgraded coal companies’ 2012 earnings by 6% - 40%, translating to lower target prices (TPs) within their coverage.
About Bahana Securities
PT. Bahana Securities was established in 1993 and 100% of its shares are owned by Perusahaan Perseroan (Persero) PT. Bahana Pembinaan Usaha Indonesia and member of the Indonesian Stock Exchange. Since its establishment up to this date BAHANA Securities strives and works hard to introduce innovation, contribution, committment to play an important role in the development of Indonesian stock exchange development.
Today BAHANA Securities provides numerous innovative services in the investment banking, stock exchange and bonds. With a reliable research ability, an efficient back office, effective IT implementation, BAHANA Securities rises to the challenges as a leading securites company in Indonesia.
Supported by trade transactions that are consistently ranked as the three biggest nasional stockbroker agency with the highest value, coupled with incisive market analysis, we were awarded "The Best Investment Bank", "The Best Equity House", and "The Best Broker" from The Assets, etc
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Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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Showing 4706 to 4710 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Minerals Council of Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Mercator Lines Limited - India
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