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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
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
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- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
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