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.
|
|
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
|
|
|
Showing 6026 to 6030 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
|
| |
| |
|
