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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Australian Coal Association
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
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