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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
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