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Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
 COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coal importing countries such as China, Japan, South Korea and India and prolonged European debt crisis and the flooding of coal supplies from non-traditional seaborne exporters such as Colombia and the US, the Indonesian coal sector remains very much an UNDERWEIGHT and we expect price under performance to persist going forward.
Indonesia, the world’s largest power plant coal exporter is suffering from low coal prices since 2Q 2012. Indonesian coal big scale producers are planning to cut down their forecasts on 2012 coal production to counter the low price as well as low demand. The producers are believe that, cutting down the coal production will help them to float until the world economy conditions as well as coal market condition turns in to positive direction.
Irwan Budiarto, an analyst from Bahana Securities commented on the recent news, " Indonesian coal miners will suffer from recent news on government's plan to raise coal royalties on Mining Business License (IUP) holders, especially for Bukit Asam, which has the largest exposure to the policy since all of its concessions are under IUPs", he said in coal outlook.
He added that, coal demand will not pick up in a meaningful manner in the near term as electricity demand from China, Japan, South Korea and India, which contribute to greater than 50% of 2011 seaborne coal trades are beginning to contract, analyst said.
We note that China’s 2Q12 economic growth was below the 8 percent y-y level for the first time since the global economic crisis in 2008-09 while India’s 2Q 12 GDP growth also decelerated to 5.5 percent y-y. Meanwhile, Japan and South Korea 2Q 12 GDP were also weaker, experiencing growth of just 1.4 percent y-y and 2.4 percent y-y respectively, Indonesian based Bahana Securities said, in its latest outlook report.
According to Bahana, more damages are expected to come in 3Q-4Q 12 as heavy rains in China that boosted hydropower generation and brought down thermal power production. In the past three months, China hydropower output grew 19 -34 percent y-y while on the flip side thermal power output was down by 2 -5 percent y-y.
Bahana further said in its report, in the past three months, China hydropower output grew 19-34 percent y-y while on the flip side thermal power output was down by 2-5 percent y-y.
An analyst, Irwan Budiarto of Bahana further added, data showed that hydropower contributed 22 percent of total electricity generated in China in July 2012, while thermal power plant dipped below 80 percent for the first time since October 2010.
“ We understand that China coal imports are still growing strongly this year, however in our view this is not related to the fundamentals of coal demand but on decreasing international coal prices relative to domestic coal prices. Hence, as China’s domestic coal prices started to fall in July, we expect coal imports to decline moderately in 2H 12 as the difference between domestic coal prices and international coal prices narrows. We estimate coal price in 3Q-4Q 12 to be stable at current levels, moving in the range of USD 85-90/ton due to lack of catalysts, bringing average coal price in line with our full-year coal price forecast to USD 97/ton, Bahana noted.
The energy analysts are expecting that, the coal market will turn in to right direction around end of 1H 2013.
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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
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