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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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Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
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- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Australian Coal Association
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
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