We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
 US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price benchmark settlement, CEO Don Blankenship said on Wednesday.
The biggest producer of steelmaking coal, BHP Billiton, is reportedly pushing customers to accept a quarterly system.
Blankenship said that, while Massey would likely follow BHP's lead if the diversified mining group is successful in achieving the change, he believes quarterly pricing would make planning increasingly difficult for coal miners.
“We are not excited about it. And customers that we have spoken to are not that excited about it either,” he told analysts and investors on a conference call.
If the industry does move to quarterly settlements, it would be good to at least see a collar placed on the pricing agreements, he said.
| “We are not excited about it. And customers that we have spoken to are not that excited about it either” - CEO Don Blankenship, Massey Energy |
Massey, which has mines in West Virginia, Virginia and Kentucky, has increased its forecast for metallurgical coal shipments in 2010, and now expects to sell between 10-million and 12-million tons, compared with previous guidance of eight- to ten-million tons.
The company is increasingly optimistic about the strength of global metallurgical coal markets, Blankenship said.
Steel producers are increasing their production plan and the coal-miner's order book for 2010 has increased, he said.
To meet firming demand, Massey will ramp up production at seven metallurgical coal mines.
However, Blankenship said he expects domestic demand for thermal coal will remain weak in the short term, although export demand could pick up.
Altogether, the company expects to ship between 37-million and 41-million tons of its own coal, at an average realised price of between $67/t and $70/t.
The firm has some 39,6-million tons of coal committed for sale in 2010, including 33,8-million tons sold and priced at an average price of about $64/t.
For 2011, Massey has forecast produced coal shipments of between 37-million and 44-million tons, at average realised prices of $70 to $76/t.
Blankenship said the company will continue to use surplus cash to increase its reserves in Central Appalachia, as well as for acquisitions elsewhere in the US and internationally.
He did not rule out the possibility of returning money to shareholders through a share buyback, but added that he believes there are better opportunities both internally and acquisitively for using the funds.
Late on Tuesday, Massey reported fourth quarter net income of $24,4-million, compared with $47,4-million a year earlier/
Profit was slightly above analyst expectations, according to Reuters.
Fourth quarter revenue slid 23% to $583,9-million.
Source: Mining Weekly
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
|
|
|
Showing 5996 to 6000 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
|
| |
| |
|
