We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
|
|
|
Showing 6421 to 6425 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Posco Energy - South Korea
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Parliament of New Zealand
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
|
| |
| |
|
