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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
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