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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 $650-million revolver.
Crutchfield indicated on Thursday the firm will continue to look at potential merger and acquisition opportunities.
“With our liquidity and scale, Alpha has a number of strategic options.
“Our financial position enables us to entertain additional M&A opportunities which can either be small bolt-on acquisitions, that complement our existing business, or transformational deals, like the merger with Foundation,” he said.
The firm has created a new position of chief strategy officer, who will have the responsibility of evaluating both acquisitive and organic opportunities.
Management is committed to the continued growth of the company, Crutchfield said, but added that it would not be “growth for growth's sake”.
“Future growth projects – be they through acquisition or organic development – will be undertaken prudently, with careful thought to strategic fit, valuation and manageability.”
“But one thing's for sure: we will continue to grow beyond the current merger,” he asserted.
Source: Mining Weekly
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Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- PTC India Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
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