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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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Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
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- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- The University of Queensland
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- White Energy Company Limited
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
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