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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Minerals Council of Australia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
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