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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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Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
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- Anglo American - United Kingdom
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Australian Coal Association
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