We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
 Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research report by financial institution MF Global. The report highlighted the potential of Mozambique and Mongolia to be “potential game changers” on the supply side - but only from 2015 and “conditional on infrastructure”.
As a result of its concern over the provision of the required infrastructure, MF Global has turned bearish on prospects for Australian junior Riversdale Mining which is developing two major coking coal projects near Tete in Mozambique.
These are the Benga project, in which Indian steel group Tata holds a 35% stake, and the Zambeze project, in which Chinese group Wuhan Iron and Steel Corporation has just agreed to buy a 40% stake.
Riversdale has also struck a logistics partnership agreement with China Communications Construction Company.
This company will carry out a “mine to ship logistics” study into the export of large volumes of coal from Mozambique, which at present suffers severe limitations on its rail and port infrastructure.
On Thursday, Riversdale announced a capital raising of A$337m at a fixed offer price of A$9.40 a share to accelerate the development of stages two and three of the Benga project.
Riversdale chairman Michael O’ Keeffe said the accelerated logistics development also included “Riversdale’s commitment to upgrading the existing coal terminal at Beira, for which Riversdale has entered into a memorandum of understanding with Vale and the Mozambique rail and port authority CFM.”
MF Global has put out a sell recommendation on Riversdale, on the grounds that the market “is expecting too much too soon”.
The firm said: “The risk/reward profile on offer is actually about long-term infrastructure development and financing.
“Given the recent share price moves, we believe the market is already pricing in quite an optimistic outcome on this front, particularly when compared to a number of producing companies where resource optionality isn’t being valued at all.
“The infrastructure demands are challenging and we expect disappointments. Riversdale’s production targets are conditional upon a significant amount of infrastructure being developed and allocations being received.
“Investors without a very long-time horizon and specialist interest in development risk would be best taking profits above $10.”
MF Global said the coking coal market appeared more balanced than iron ore, because China was not such a major factor.
The firm said: “Japan is the largest destination (35%) followed by India (20%), China (10%) and Europe (10%).
“The more balanced spread is positive when compared to the concentrated risk of the iron ore market, particularly if there is to be a more balanced global economy in 2010.
“In the longer term, demand will be driven by India and Brazil which are long (on) iron ore but short coking coal. “
Turning to the supply side, MF Global pointed out this was dominated at present by Australia which accounted for 70% of the seaborne trade in coking coal. However, supply growth from that country was constrained by logistics problems.
About 85% of the metallurgical coal exports from Australia are shipped from the state of Queensland, but MF Global pointed out port capacity has been operating at around 70% to 80% for the past five years.
The report stated: “In Queensland, the rail network is underdeveloped and congestions are frequent. System underperformance has resulted in lost sales and increased demurrage. “The queues of ships that can sometimes stretch as long as 70 in number and can wait for over a month to be loaded, are nearly always caused by rail congestion rather than the port facility itself.”
Source: Mining Mx / Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
|
|
|
Showing 5711 to 5715 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- PTC India Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
|
| |
| |
|
