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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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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
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- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Australian Coal Association
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- PTC India Limited - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
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