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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, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- The University of Queensland
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- VISA Power Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
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