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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
 Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research report by financial institution MF Global. The report highlighted the potential of Mozambique and Mongolia to be “potential game changers” on the supply side - but only from 2015 and “conditional on infrastructure”.
As a result of its concern over the provision of the required infrastructure, MF Global has turned bearish on prospects for Australian junior Riversdale Mining which is developing two major coking coal projects near Tete in Mozambique.
These are the Benga project, in which Indian steel group Tata holds a 35% stake, and the Zambeze project, in which Chinese group Wuhan Iron and Steel Corporation has just agreed to buy a 40% stake.
Riversdale has also struck a logistics partnership agreement with China Communications Construction Company.
This company will carry out a “mine to ship logistics” study into the export of large volumes of coal from Mozambique, which at present suffers severe limitations on its rail and port infrastructure.
On Thursday, Riversdale announced a capital raising of A$337m at a fixed offer price of A$9.40 a share to accelerate the development of stages two and three of the Benga project.
Riversdale chairman Michael O’ Keeffe said the accelerated logistics development also included “Riversdale’s commitment to upgrading the existing coal terminal at Beira, for which Riversdale has entered into a memorandum of understanding with Vale and the Mozambique rail and port authority CFM.”
MF Global has put out a sell recommendation on Riversdale, on the grounds that the market “is expecting too much too soon”.
The firm said: “The risk/reward profile on offer is actually about long-term infrastructure development and financing.
“Given the recent share price moves, we believe the market is already pricing in quite an optimistic outcome on this front, particularly when compared to a number of producing companies where resource optionality isn’t being valued at all.
“The infrastructure demands are challenging and we expect disappointments. Riversdale’s production targets are conditional upon a significant amount of infrastructure being developed and allocations being received.
“Investors without a very long-time horizon and specialist interest in development risk would be best taking profits above $10.”
MF Global said the coking coal market appeared more balanced than iron ore, because China was not such a major factor.
The firm said: “Japan is the largest destination (35%) followed by India (20%), China (10%) and Europe (10%).
“The more balanced spread is positive when compared to the concentrated risk of the iron ore market, particularly if there is to be a more balanced global economy in 2010.
“In the longer term, demand will be driven by India and Brazil which are long (on) iron ore but short coking coal. “
Turning to the supply side, MF Global pointed out this was dominated at present by Australia which accounted for 70% of the seaborne trade in coking coal. However, supply growth from that country was constrained by logistics problems.
About 85% of the metallurgical coal exports from Australia are shipped from the state of Queensland, but MF Global pointed out port capacity has been operating at around 70% to 80% for the past five years.
The report stated: “In Queensland, the rail network is underdeveloped and congestions are frequent. System underperformance has resulted in lost sales and increased demurrage. “The queues of ships that can sometimes stretch as long as 70 in number and can wait for over a month to be loaded, are nearly always caused by rail congestion rather than the port facility itself.”
Source: Mining Mx / Hellenic Shipping
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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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Showing 5716 to 5720 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
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