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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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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
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- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
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