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