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, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
|
|
|
Showing 6296 to 6300 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
|
| |
| |
|
