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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Australian Coal Association
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
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