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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, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
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- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
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