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