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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
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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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Showing 5716 to 5720 news of total 6871 |
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- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- PTC India Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
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