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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
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