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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
|
|
|
Showing 5826 to 5830 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
|
| |
| |
|
