We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
 Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher prices in the longer run than those that sell coal for power generation, analysts say.
Last year's economic downturn hit both steel and electricity demand hard and miners were forced to cut back on production as coal prices slumped. But now there are signs that coal demand, at least from steelmakers, is coming back.
"We generally favor coal producers with international leverage, especially those tied to steel production via metallurgical coal, over thermal coal producers," analyst Jeremy Sussman of Brean Murray, Carret & Co said on Thursday.
And Morgan Stanley's Mark Liinamaa and Wes Sconce said they expected premium hard metallurgical or coking coal for steelmaking to be selling at $160 per tonne in 2010, with prices trending higher through 2013. In June, the benchmark price for coking coal was $129 per tonne.
"Our commodity team sees higher seaborne thermal coal prices going forward but we do not expect demand for U.S. thermal coal exports for the next 12-18 months," the Morgan Stanley analysts said in a research note.
In afternoon trading on the New York Stock Exchange on Friday, the S&P index of coal stocks .GSPCOAL was down 1,2 percent, with Alpha Natural Resources the biggest loser, down 3 percent at $37,61. Consol Energy fell 2.4 percent to $49,76, Massey Energy fell 1,4 percent to $32,89, Peabody Energy was down 1,3 percent at $41,69 and Arch Coal was off 11 cents at $23,94.
This week, Dahlman Rose & Co downgraded Peabody, Arch and James River Coal to "hold" from "buy," saying the weak outlook for thermal coal does not support current valuations.
Peabody kicks off the earnings season for coal miners next Tuesday, followed by Arch, Consol Energy, Massey Energy and Alpha Natural Resources.
Of those producers, only Consol is seen posting a profit bigger than in the 2008 quarter, according to Thomson Reuters I/B/E/S. Analysts on average expect Consol's earnings to be 66 cents per share, compared with 49 cents a year earlier.
"Consol has one big met mine (Buchanan, in Virginia) and we expect it to do better than expected as there has been a lot of spot demand from China," said Sussman.
He said Arch had the least metallurgical coal of the major miners and analysts currently expect its profit to be 4 cents per share, way off last year's 68 cents.
Peabody produces coking coal at its Australian mines, but analysts expect a big drop in third-quarter profit from $1,38 per share to 22 cents. Earnings of Massey, which has about 25 percent metallurgical coal, are expected to drop to 18 cents per share from 86 cents a year ago and Alpha's profit is expected to drop to 39 cents from 90 cents a year earlier.
Sussman said lower electricity demand from industry since last year's economic downturn has hurt coal miners that produce thermal or steam coal, which is burned in power plants.
"Inventory levels at utilities are still way too high (70 days, or 50 percent above average) for thermal coal producers to speak positively about the thermal coal market," he said.
According to Edison Electric Institute, for the 52 weeks ended Oct. 10, U.S. power production was down 3.4 percent from the corresponding period in 2008.
"On the other hand, there have been a number of recent positive data points in the met coal space, which should help met coal producers' earnings," said Sussman.
He noted China imported about 8.7 million tonnes of met coal during the third quarter, 30 percent more than in all of 2008. Also, Australia has slowed shipments to China recently and the United States appears to be picking up some of the slack.
"U.S. met coal companies should see a meaningful pickup in activity levels in the second half of the year versus the first half," said Sussman.
Morgan Stanley's analysts said investors seeking exposure to the coking coal upside might consider Cliffs Natural Resources, an iron ore pellet producer, which also operates some coal mines.
"Cliffs' U.S. coking coal mines can grow to 4,5 million tons by 2011, ahead of the market's 3,5 million-ton outlook," Liinamaa and Sconce wrote. Analysts expect Cliffs to report a 6-cent loss in the third quarter, after a $2,13 per-share profit a year ago.
Source: Mining Weekly, Reuters
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
|
|
|
Showing 6321 to 6325 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- White Energy Company Limited
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
|
| |
| |
|
