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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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Tuesday, 08 September 09
INDONESIA OFFERS AN OPPORTUNITY TO INDIANS
Meri News reported that, Indonesia is all set to launch the country's second 10,000 MW accelerated power expansion programme. The new power develop ...
Tuesday, 08 September 09
BUKIT ASAM AIMS 14 MLN TONS COAL PRODUCTION
VIVA News reported that, The rise in coal production is mainly triggered by the step-up in domestic demand.
Coal mining company PT Tambang Batuba ...
Tuesday, 08 September 09
MERCHANT BANKERS ADVISE CIL ON INDONESIAN MINE BUYS
Business Standard reported that, State-owned Coal India Ltd (CIL) is being advised by four to five merchant bankers on acquisition of coal assets in ...
Tuesday, 08 September 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 - PRESS RELEASE
The 3rd Asia Pacific Coal Trading & Investment Outlook 2009
Analysis of Asia Coal Market amid Global Financial Crisis
COALspot.com(Chin ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
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- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- PTC India Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
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