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Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China’s moves to shale gas, we remain bearish on coal’s long term outlook. Coal counters’ 1M price outperformance’s are mainly on seasonal effect which raised global coal prices by some 16% from its bottom in November 2012.
The market was also buoyed by positive news from China, the world’s largest coal importer, which posted November coal import of 29m tons (+35% m-m and +31% y-y), the highest in the past 4 years. However, we believe conditions are temporary on winter restocking with coal prices to normalize in 2Q13.
Coal prices to normalize in 2Q13
Irwan Budiarto, an analyst from Bahana Securities commented on the recent report, historically, coal prices tend to move up in 4Q due to winter restocking activities, resulting in China’s coal imports being the highest in the last quarter of the year. However, setting aside the winter restocking factor, we believe that medium-term coal demand will not pick up in a meaningful manner as electricity demand from three big coal importers (approximately 40% of total global coal imports), namely China, South Korea and Japan does not show any signs of improvement.
We also note that historically coal prices in 4Q-1Q would usually increase by 2%-28% before normalizing in 2Q. Hence, as coal prices have risen 16% since early November 2012, we believe there is limited potential for further coal price strengthening, analyst said
Bahana maintains 2013 coal price assumption at USD82/ton (-15% y-y), given continued uncertainties in global outlook, temporary restocking condition, increasing coal output and US industrial users’ switch to shale gas.
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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- The University of Queensland
- Economic Council, Georgia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
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