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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 $49,23 apiece by 12:48 in New York.
“Today’s results were well short of our expectations, though Consol’s outlook remains unchanged,” Dahlman Rose & Co analyst Daniel Scott said in a note.
“The potential for sales of the company’s top-quality metallurgical product to a firming steel industry are a major positive for the company.”
Source: Mining Weekly
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
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