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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, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
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- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
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