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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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- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
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