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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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- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
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