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Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that demand for seaborne metallurgical, or steel-making, coal in China is slowing.
Analyst Curt Woodworth said demand is slowing because Chinese domestic metallurgical coal production is increasing and China has built excess inventory of steel.
He also said Chinese steel production appears unsustainably high.
The analyst believes that steel production will likely decline moderately in China over the next several months following substantial increases in production levels experienced since April.
Woodworth noted that the fundamentals for thermal coal, used mainly by electric utilities to generate electricity, continue to worsen and said he expects producers to lower 2010 volume expectations this quarter.
Woodworth believes that the substitution of natural gas, instead of coal by electric utilities, has negatively impacted U.S. thermal coal demand by about 50 million tons.
This is significantly above the forecast displacement rates of about 20 million tons articulated by most producers earlier in 2010, the analyst said.
Woodworth expects thermal coal demand to remain depressed unless natural gas prices were to increase significantly in the short run. The analyst downgraded Massey Energy Co and Alpha Natural Resources Inc to "neutral" from "outperform" as he expects earnings to remain very weak over the next two quarters.
He also believes the market has become overly bullish on their ability to export met coal at higher prices in the second half of 2009.
Woodworth also cut Peabody Energy Corp and Patriot Coal Corp to "underperform" from "outperform," saying that these stocks are now trading near the high end of historical valuation levels.
Source:Reuters
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Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
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- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
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