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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, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Parliament of New Zealand
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
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