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.
|
|
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
|
|
|
Showing 6416 to 6420 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
|
| |
| |
|
