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Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
 Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved conditions in 2011, Consol Energy CEO Brett Harvey said on Thursday.
Consol – the fourth-biggest coal producer in the US – saw earnings decline year-on-year in the third quarter because of lower coal volumes, and will continue to match production to the market, he said on a conference call.
“Our shareholders need to be aware that we are not going to mine this coal unless we have a place to put it - we are going to manage our inventories, we are not going to put ourselves in a distressed position,” Harvey said.
Consol reduced annual production levels twice this year, by a total of seven million tons, to 58-million tons.
Unfortunately, lower volumes have put pressure on costs, particularly for the company's metallurgical coal, he said.
The company will focus capital spending in 2010 on efficiency projects that are already under way, but will not add any new projects in the coal business.
“And we think 2010 is a bridge year to, I think, a tightened market, and a volume-constrained market, based on the financial capabilities of our competitors, as well as the pressure from the federal government and the state governments, for a new environmental push at a much higher threshold,” Harvey said.
On the thermal coal side, US demand will likely remain soft, given the high levels of stockpiles .
However, if and when demand improves, Consol will be in a position to boost its production levels.
The company does see “movement” in the metallurgical coal market, Harvey said.
Asian steel plants are now running at about 75% of capacity, while US plants are at around 60%, he said.
“And we see some upside there.”
Consol has locked in metallurgical coal sales for 2010 at around $114/t to $115/t, and does not expect to price any steelmaking coal next year below that level.
The company produces metallurgical coal from its Buchanan mine, in Virginia, which it restarted in July.
Longwall production at the mine was idled in March, in response to sharply lower demand from steel producers.
Harvey said that Consol has considered making acquisitions, but that it is still “a bit early” to move on its potential targets.
“There is still some pain in the coal business to come for people who are in poor financial positions,” he commented.
Consol shares slid 3,6% on Thursday, to $49,23 apiece by 12:48 in New York.
“Today’s results were well short of our expectations, though Consol’s outlook remains unchanged,” Dahlman Rose & Co analyst Daniel Scott said in a note.
“The potential for sales of the company’s top-quality metallurgical product to a firming steel industry are a major positive for the company.”
Source: Mining Weekly
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Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
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- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
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- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
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- Petrochimia International Co. Ltd.- Taiwan
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- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- MS Steel International - UAE
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- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
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- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
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