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Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that demand for seaborne metallurgical, or steel-making, coal in China is slowing.
Analyst Curt Woodworth said demand is slowing because Chinese domestic metallurgical coal production is increasing and China has built excess inventory of steel.
He also said Chinese steel production appears unsustainably high.
The analyst believes that steel production will likely decline moderately in China over the next several months following substantial increases in production levels experienced since April.
Woodworth noted that the fundamentals for thermal coal, used mainly by electric utilities to generate electricity, continue to worsen and said he expects producers to lower 2010 volume expectations this quarter.
Woodworth believes that the substitution of natural gas, instead of coal by electric utilities, has negatively impacted U.S. thermal coal demand by about 50 million tons.
This is significantly above the forecast displacement rates of about 20 million tons articulated by most producers earlier in 2010, the analyst said.
Woodworth expects thermal coal demand to remain depressed unless natural gas prices were to increase significantly in the short run. The analyst downgraded Massey Energy Co and Alpha Natural Resources Inc to "neutral" from "outperform" as he expects earnings to remain very weak over the next two quarters.
He also believes the market has become overly bullish on their ability to export met coal at higher prices in the second half of 2009.
Woodworth also cut Peabody Energy Corp and Patriot Coal Corp to "underperform" from "outperform," saying that these stocks are now trading near the high end of historical valuation levels.
Source:Reuters
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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
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- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- GMR Energy Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
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