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