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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
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
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- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Economic Council, Georgia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
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