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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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Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
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- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- White Energy Company Limited
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
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