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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- The University of Queensland
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Planning Commission, India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
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