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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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- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
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