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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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Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
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