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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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Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
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