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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, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- White Energy Company Limited
- Global Business Power Corporation, Philippines
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- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
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- Altura Mining Limited, Indonesia
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- LBH Netherlands Bv - Netherlands
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- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
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- Rio Tinto Coal - Australia
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- Cigading International Bulk Terminal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Planning Commission, India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
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- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
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- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
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- Gujarat Electricity Regulatory Commission - India
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- Parliament of New Zealand
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- Anglo American - United Kingdom
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- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
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- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
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- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
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- PowerSource Philippines DevCo
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- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
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- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
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- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
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- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
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- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Deloitte Consulting - India
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- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
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- Coal and Oil Company - UAE
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