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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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Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
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- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
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