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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
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