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