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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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Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
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- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- The University of Queensland
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- White Energy Company Limited
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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