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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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Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
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- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Australian Coal Association
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- The University of Queensland
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