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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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Tuesday, 08 September 09
INDONESIA OFFERS AN OPPORTUNITY TO INDIANS
Meri News reported that, Indonesia is all set to launch the country's second 10,000 MW accelerated power expansion programme. The new power develop ...
Tuesday, 08 September 09
BUKIT ASAM AIMS 14 MLN TONS COAL PRODUCTION
VIVA News reported that, The rise in coal production is mainly triggered by the step-up in domestic demand.
Coal mining company PT Tambang Batuba ...
Tuesday, 08 September 09
MERCHANT BANKERS ADVISE CIL ON INDONESIAN MINE BUYS
Business Standard reported that, State-owned Coal India Ltd (CIL) is being advised by four to five merchant bankers on acquisition of coal assets in ...
Tuesday, 08 September 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 - PRESS RELEASE
The 3rd Asia Pacific Coal Trading & Investment Outlook 2009
Analysis of Asia Coal Market amid Global Financial Crisis
COALspot.com(Chin ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
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- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
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- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
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- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
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- Ministry of Transport, Egypt
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- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
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- Meralco Power Generation, Philippines
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- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
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- Sindya Power Generating Company Private Ltd
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- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
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- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
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