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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
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