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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Planning Commission, India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Australian Coal Association
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
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