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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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Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
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- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Planning Commission, India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
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