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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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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
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- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- White Energy Company Limited
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
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