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