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Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
 * Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct to 58.074 mln tonnes in Q1 2009
* Coal prices seen between $65-$70 until year end
Indonesia's coal output this year may be about 9 percent lower than initially expected due to the global crisis, a top industry official said on Thursday, although Chinese and Indian demand should lift exports in the second half.
Indonesia, the world's top thermal coal exporter, is expected to produce about 240 million tonnes of coal this year, slightly up from 238 million tonnes last year, but down on a forecast of 265 million tonnes early this year, said Bob Kamandanu, head of the Indonesia Coal Association.
Coal production in the first quarter fell 1.39 percent to 58.07 million tonnes, compared to 58.90 million tonnes in the same period of 2008.
"There were no cancellation from buyers, but they reduced the shipment volumes," Kamandanu, the association's newly-elected chairman, said in an interview.
"With the situation, production is most likely to hit 240 million tonnes. If demand improves in the second half, it could be much higher but it will not reach 265 million," he said.
Indonesia exported 44.79 million tonnes of coal in the first quarter, down 11.2 percent from 50.49 million tonnes in the January-March period last year, Kamandanu said.
Coal is the cheapest source of thermal energy used in the industrial sector, with the cement and steel industry among the largest buyers.
But demand has stuttered as the downturn has forced factories from Europe to China to halt production as exports slump.
However, Indonesia's overall coal exports for 2009 should still top the 206 million tonnes shipped in 2008 as coal demand was expected to recover in the second half helped by Chinese and Indian demand, Kamandanu said.
"We see demand from China is picking up and there's more demand from India. I see there will be improvement in the second semester," he said.
Asian coal prices have recovered from a near 6-month low of $58 a tonne in February to hover above $60 in the past two months aided by Chinese demand for coal from Australia and Indonesia.
India's demand for coal is growing by around 8-9 percent a year, outpacing production that is growing by 6 percent as the power sector has not been hit by the credit crunch.
Kamandanu said coal prices were likely to hover between $65-$70 until the end of the year.
"I don't think there will be a significant jump in prices like last year. Players learned a lesson from last year," he said.
Coal prices have fallen from a record peak of $201 a tonne hit in July last year. Thermal coal prices at the globalCOAL Newcastle weekly index stood at $63.46 a tonne late Wednesday.
Despite lower exports in the first quarter, domestic coal demand jumped nearly 60 percent to 13.28 million tonnes, from 8.39 million tonnes in the same period as many domestic users had locked in contracts early this year.
"Last year, their stockpiles were nearly empty because rains disrupted production and shipments. So this year, they lock in contracts earlier to avoid that problem," he said.
The association said it planned, by targeting smaller firms, to expand its membership to 100 coal firms from 54 now to boost marketing of Indonesian coal.
Source: http://money.ninemsn.com.au/article.aspx?id=813959
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Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
Saturday, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
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