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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
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