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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Goldman Sachs - Singapore
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
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