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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Minerals Council of Australia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
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