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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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Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Planning Commission, India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
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