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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, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
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- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- The University of Queensland
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- MS Steel International - UAE
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- CNBM International Corporation - China
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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