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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Planning Commission, India
- Meralco Power Generation, Philippines
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