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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- MS Steel International - UAE
- Latin American Coal - Colombia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
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