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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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Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
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- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
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