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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 $49,23 apiece by 12:48 in New York.
“Today’s results were well short of our expectations, though Consol’s outlook remains unchanged,” Dahlman Rose & Co analyst Daniel Scott said in a note.
“The potential for sales of the company’s top-quality metallurgical product to a firming steel industry are a major positive for the company.”
Source: Mining Weekly
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
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