We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
|
|
|
Showing 6241 to 6245 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Planning Commission, India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
|
| |
| |
|
