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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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Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
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- The University of Queensland
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
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