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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, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
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- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- The University of Queensland
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
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