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Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
 The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic and export markets.
Despite the delayed completion of the 10,000 megawatts (MW) coal-fired steam power plant (PLTU) program, we expect to see additional electricity capacity starting in the fourth quarter of 2009. PLTU Labuan (2x300 MW) was scheduled to operate its first unit in September 2009 and the second unit by December 2009.
PLTU Rembang (2x315 MW) and Indramayu (2x330 MW) should start to operate by January 2010. As nine out of 10 projects in Java-Bali are now in their construction stages, there should be a total add-on capacity of 6,830 MW by the end of 2010. Six PLTU projects (total capacity162 MW) outside the Java-Bali region have already started the construction stage in the fourth quarter of this year with an additional 5 to follow suit.
The Government of Indonesia has finally approved the coal volume required for the domestic market obligation (DMO) at 75 million tons per year starting from 2010, 10.3 percent higher year-on-year from 68 million tons of domestic consumption estimated for 2009.
The volume set for the DMO would amount to 30 percent of the 2010 total estimate for coal production at 250 million tons or up 8.7 percent year-on-year from the 2009 estimate of 230 million tons (chart 1). PLN itself has signed 20-year coal supply contracts, effective once the PLTUs are operational, amounting to 30m tons per year of low-rank coal.
We foresee that the implementation of the DMO has limited the flexibility for coal producers to aggressively penetrate the export market. On top of that, the government has recently revealed its intention to apply a restriction on export quotas at 150 million tons per year starting from 2010.
The regulations would also require each coal producer to allocate 25 percent of their total coal production for the domestic market, or to face penalties in the form of restrictions on their exports.
We see, however, that this last regulation might not be necessary due to the anticipated increase in the volume of coal production going forward, exceeding the domestic demand requirements.
On a more positive note, the government seems willing to accommodate Indonesian coal producers' wishes for minor interventions in regulating the sales price for coal under the DMO provisions. The sales price will be with reference to the international market price to avoid high spreads between export and domestic pricing.
Based on the Newcastle Index, the year-to-date coal price has averaged US$70.7 per ton. Despite a downward trend since the fourth quarter of 2008, coal prices have been relatively steady throughout 2009.
We believe that the price of coal has found its new equilibrium at current levels, supported by stronger demand for higher energy needs mostly in the South East Asian region. Hence, we now expect the coal price to average US$75/t in 2010.
Government also plans to cut the royalty tax rate (DPHB) on low calorific value coal. The proposed DPHB rate is 9 percent for coal with CV<5,000kcal/kg (vis-*-vis 13.5 percent previously) and 7.5 percent for CV<4,500kcal/kg.
We see that upon implementation, lower royalty rates will mean incentives towards growth expectations in the sector.
Stronger domestic demand starting from 2010 paired with recovery of global demand will provide higher volume support for demand for both thermal and coking coal. In our view India will provide the highest growth in thermal coal demand, boosting imports by about 18% to 40m tons beginning this year, in line with the government's plan to double coal-fired electricity generation capacity by 2017.
Indonesia has also made preparations to start the 10,000 MW program phase II which is scheduled to start in 2012 and to operate by 2014.
We estimate coal-fired power plants will take around 48 percent from the total portion of 9,963 MW. Furthermore, coal supply may not grow at the same pace as demand due to export restrictions set on major coal exporters, such as Vietnam and China to secure their domestic needs.
Supported by the fact that the China government has decided to reduce its export quota by 50 percent from 40 million tons to 20 million tons.
As one of the world's major coal exporters, Indonesia will certainly have the upper hand in the tightening supply of coal.
Source:The Jakarta Post
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Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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