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Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
 Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to do so, Alpha Natural Resources CEO Kevin Crutchfield said on Thursday.
Further, while inventories of US thermal coal remain high by historical standards, this situation could turn around over the next 12 months, to the point where demand exceeds supply – possibly in late 2010 or early 2011, he told analysts and investors on a conference call.
Alpha Natural, now the third-biggest coal producer in the US after it bought rival Foundation Coal last month, produces steam coal from mines in the Powder River Basin (PRB) and north and central Appalachia.
It is also the biggest producer of high-quality metallurgical coal from its Appalachian mines.
Based on committed and priced coal shipments, the company expects to receive an average of $10,50/t for its PRB coal this year, but that average prices will improve to $11,17 in 2010.
Eastern steam coal prices are forecast at $63,84/t in 2009, but are seen increasing to $69,51/t next year, while Alpha Natural estimates it will realise an average of $114,45/t for its metallurgical coal in 2010, up from a forecast $100,87/t for this year.
Total shipments in 2009 are expected to be between 83-million and 87,5-million tons, and shipments are forecast at $80-million to $90-million next year.
This year's guidance includes 50-million to 51,5-million tons of PRB coal, 26-million to 28-million of eastern steam coal and 7-million to 8-million tons of metallurgical coal.
The firm is already “very well” contracted for 2010, with more than 85% of expected shipments committed for delivery, Crutchfield reported.
Although the economic downturn continues to weigh on coal markets in the US and around the world, the domestic metallurgical coal market, is starting to show signs of recovery, and will likely be the first segment of the coal industry to return to relative health, he said.
Further, the global fundamentals for metallurgical coal are also improving, with Chinese demand expected to remain strong, he said.
China, which was a net exporter of coal just three years ago, is on pace to import about 100-million tons of coal this year, 30-million of which is expected to be metallurgical coal, Crutchfield said.
“This trend had been abating somewhat, but it is our belief the recent mine disaster is likely to sustain import requirements, given the closure of 157 small mines in the region.”
There are also “tangible” signs of increased metallurgical coal demand and requirements from Europe, which appears to be poised for a turnaround, he said.
As for steam coal, however, inventories remain above normal across the US, and a mild summer combined with low natural gas prices have added to the demand-weakening effects of the economic downturn.
However, with the outlook in the US beginning to improve, Crutchfield said the decrease in electricity demand can be expected to moderate and give way to at least modest demand growth in early 2010.
Much of the elimination of high cost production that occurred during the down turn will be difficult to bring back, he said, which means that a stronger market could result in demand for steam coal outstripping supply, once inventories return to normal levels.
This could develop in late 2010 or early 2011, he predicted.
MORE GROWTH TO COME
After closing the Foundation merger, Alpha Natural had total debt of $901-million and cash of cash equivalents of $497-million, plus a $650-million revolver.
Crutchfield indicated on Thursday the firm will continue to look at potential merger and acquisition opportunities.
“With our liquidity and scale, Alpha has a number of strategic options.
“Our financial position enables us to entertain additional M&A opportunities which can either be small bolt-on acquisitions, that complement our existing business, or transformational deals, like the merger with Foundation,” he said.
The firm has created a new position of chief strategy officer, who will have the responsibility of evaluating both acquisitive and organic opportunities.
Management is committed to the continued growth of the company, Crutchfield said, but added that it would not be “growth for growth's sake”.
“Future growth projects – be they through acquisition or organic development – will be undertaken prudently, with careful thought to strategic fit, valuation and manageability.”
“But one thing's for sure: we will continue to grow beyond the current merger,” he asserted.
Source: Mining Weekly
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Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
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- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- PTC India Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
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