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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
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
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- Parry Sugars Refinery, India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
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