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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
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