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