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.
|
|
Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
|
|
|
Showing 6331 to 6335 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
|
| |
| |
|
